Cosmose AI, a platform that predicts and influences how one billion people shop offline, has announced the completion of a US$15 million Series A investment round, valuing the company in excess of US$100 million. The Series A round was led by institutional capital from Tiga Investments, OTB Ventures and TDJ Pitango, supported by a number of ultra-high net worth individuals in Asia.
Founded in 2014, Cosmose harnesses anonymous mobile user IDs and high precision location data to empower some of the world’s most prominent companies including LVMH, Richemont, Walmart, L’Oreal and Samsung. The Cosmose platform gathers anonymised data on consumer behaviour to help retailers inform their sales and advertising strategies, retain their customer base and improve the shopping experience of customers in their stores.
Cosmose helping retailers to recover with offline behaviour data
Following from seed funding in 2019, today’s Series A reflects the business’s commercial momentum with retailers in Asia in the aftermath of the Covid-19 pandemic and the easing of local lockdown restrictions. Earlier this year, the Cosmose platform gathered data from over 360,000 stores – including over 600 luxury and beauty brands and major shopping malls in mainland China, Hong Kong, and Macau – to assess how brands can recover from the fall in retail as a result of Covid-19 lockdown restrictions.
In recent months, Cosmose has entered commercial engagements with Marriott and Walmart to help them understand offline shopping habits and drive footfall. During that time, Cosmose has expanded its operations to Japan, partnering with Japan’s leading eCommerce company to offer Cosmose’s technology to its clients and bring seamless retail experience.
Miron Mironiuk, CEO and Founder of Cosmose AI, said: “Today is an important milestone for Cosmose and a big boost for retailers looking for ways to recover from the pandemic. At Cosmose, machine learning is the foundation of everything we do, and I am proud that our technology can help the retail industry in this challenging environment. We are seeing great momentum across Asia and, with the backing of the world’s largest companies, I look forward to a bright and profitable future in retail.”
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