7 Deep Tech Digital Commerce Companies

Big Money

Today the Deep Tech Insider will look at how seven AI companies are using their IP in Digital Commerce and beyond. Two of the seven have raised an incredible amount — is this the future of the sector or just an anomaly?

1. Mona

Founded in 2018 by Yotam Oren, Nimrod Tamir and Itai Bar Sinai — leaders from Google and McKinsey & Company — Mona’s platform enables teams to continuously collect, transform and analyze data from all parts of your AI system to track performance metrics in a robust dashboard, be proactively alerted on anomalous behaviour, diagnose model issues, conduct A/B tests, and more.

The Atlanta-based startup has raised $7 million in funding, the Seed round coming in August of this year.

2. Infinite Analytics

Infinite Analytics is a Cambridge, Massachusetts and Mumbai, India-based company whose AI platform is useful for Customer Acquisition across Industries. Its AI Agent knows individuals at a 1:1 level and interacts with them via text, voice, images, web personalization. For example, by personalizing e-commerce web pages, site search, recommendations, and conversing with the users via Amazon Echo, which can identify and find products simply from pictures.

Akash Bhatia and Purushotham Botla founded Infinite Analytics in 2012. To date, the company has raised $4.1 million in funding over six rounds.

3. Layer 6 AI

Founded by Jordan Jacobs, Tomi Poutanen and Maksims Volkovs in 2016, Layer 6 AI is a Toronto-based leading machine learning research company, developing advanced deep learning systems that have the power to uplift large populations while advancing the field of AI. Its research is supported by access to massive datasets, close collaboration with world-renowned academic faculty, and a uniquely scalable machine learning platform. Research areas include deep learning, computer vision, time series analysis, natural language processing and recommendation systems etc. Our technical capabilities have been publicly recognized through a number of wins in various international machine learning competitions, including the prestigious ACM RecSys Challenge (the only repeat winner in 2017 and 2018 and runner-up in 2019), Google’s Landmark Retrieval Challenge (2nd place in 2018, 3rd place in 2019), the Stanford Question Answering Dataset (2nd place in 2019), 3rd YouTube-8M Video Understanding Challenge (winner in 2019) and Open Images 2019 — Visual Relationship (winner in 2019). Layer 6 was founded in Toronto in 2016 and backed by some of the most successful technology entrepreneurs in Canada. Layer 6 was acquired by TD Bank Group in 2018 and we continue being based in Toronto’s Discovery District — MaRS Centre.

4. SiteZeus

SiteZeus is a predictive modelling platform that helps multi-unit brands with location-based decisions. Founded by Azad Ratzki, Hannibal Baldwin and Keenan Baldwin in 2013 and headquartered in Tampa, Florida, the location intelligence platform is powered by A.I. to create fast and accurate predictive models. Brands leverage the platform to make confident, data-driven decisions to solve for infill expansion, greenfield growth, remodel analysis, relocation analysis, and closure analysis.

SiteZeus has raised a total of $3.7 million over two rounds.

5. Bloomreach

Founded in 2009 by Raj De Datta, Ashutosh Darg and Tjeerd Brenninkmeijer, Bloomreach is a Mountain View, California-based company that empowers brands to deliver customer experiences so personalized, they feel like magic. It offers a suite of products that drive true personalization and digital commerce growth, including Discovery, offering AI-driven search and merchandising; Content, offering a headless CMS; and — Engagement, offering leading CDP and marketing automation solutions. Together, these solutions combine the power of unified customer and product data with the speed and scale of AI-optimization, enabling revenue-driving digital commerce experiences that convert on any channel and every journey.

Bloomreach serves over 850 global brands including Albertsons, Bosch, Puma, FC Bayern München, and Marks & Spencer. Incredibly, the company has managed to raise an eye-rubbing $274 million in funding over five rounds.

6. Sentient.io

Sentient.io helps software developers who have little or no AI skills create AI-enabled applications or AI-driven services by embedding AI capabilities into their applications via REST API calls with its core product, the Sentient AI and Data Platform.

Founded in 2017 by experienced technopreneur Christopher Yeo, the Singapore-based startup has raised over $5 million in funding over five rounds.

7. Optoro

Based in Washington DC, Optoro was founded in 2010 by two “scrappy entrepreneurs”, Tobin Moore and Adam Vitarello, and is using innovative technology to solve a large — and growing — global problem.

Every year, more than 15% of retail goods are returned or simply never sell. This creates tons of unnecessary waste and costs retailers billions of dollars. Optoro offers returns technology that connects a seamless online returns experience with efficient supply chain processing and best in class reCommerce, so that retailers can improve outcomes across all points of the returns lifecycle. Its solution includes an online returns portal to make returns easy for customers, a data-driven returns management solution to improve processing and route returned goods from the first touch, and a reCommerce solution to sell returns across secondary channels. This means greater value for everyone involved, less waste and a healthier planet. Optoro has received many awards and accolades, including CNBC’s Disruptor 50, EY’s Entrepreneur of the Year and the World Economic Forum’s Circular Economy Award, Most recently, Optoro was named a “Top Workplace” in DC by The Washington Post.

It is little wonder then that Optoro has raised an astounding amount to date: some $244.4 million over eight rounds, figures close to fellow AI startup Bloomreach’s funding achievements.

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