Singaporean shopping analytics platform Cosmose AI successfully raises funds and is now valued at US$500 million.
Singapore-based Cosmose AI leverages artificial intelligence (AI) to gather data on offline consumer behaviour, boasting prestigious clientele including LVMH and Estée Lauder. The shopping analytics company recently closed a funding round with the Near Foundation, raising its valuation to US$500 million.
The Near Foundation is a Swiss nonprofit that supports the ongoing growth and development of the Near Protocol, a high-performance carbon-neutral blockchain that is designed to be “super-fast, incredibly secure, and infinitely scalable.” Following the investment, Cosmose will be using Near Protocol in 2 of its products, including its mobile shopping platform KaiKai, which will use the blockchain tech to create its own cryptocurrency for payments and user rewards, aiming to shorten payment processing times and lower transaction fees.
Since 2014, Cosmose AI has been connecting the best of offline and online to create seamless experience for shoppers and increase sales for retailers. Its international team working across Singapore, Hong Kong, Tokyo, Paris, Warsaw, and Shanghai empower brands through analytics services and AI-driven recommendations to users encouraging them to shop in nearby stores saving time, money, and the environment.
“We are grateful for the ongoing support from NEAR Foundation and are excited about what’s to come. NEAR is the most secure, scalable and sustainable blockchain protocol. Having built on NEAR in 2022 and while working with NEAR Foundation we discovered that our visions for the Web3-driven future are aligned. Together, NEAR and Cosmose AI will build a future where more than 1 billion users can benefit from the ecosystem they are part of, remain in full control of their data and have a superior shopping experience thanks to AI-driven personalisation,” commented Miron Mironiuk, the Founder and CEO of Cosmose AI.
Cosmose will continue to innovate within the Web3 ecosystem and through Near Protocol, will be able to ensure users maintain complete control over their data.
Marieke Flament, the CEO of the Near Foundation, added, “We are excited to be supporting Cosmose as it continues to scale rapidly and to create new ways for retailers to offer customers the best and most seamless offline and online shopping experiences. The company’s excellent AI innovation will help to intensify its global marketplace lead and with our support – give it the means to leverage the full potential of Web3 in a way that is sustainable, transparent, and infinitely scalable. The company already boasts a strong user base – and with superior AI-driven personalisation that number will continue to grow – as new and existing customers will be seamlessly transitioned into the world of Web3 and the exciting opportunities it brings.”
Cosmose previously held a Series A fundraising round in 2020, led by Tiga Investments, OTB Ventures and TDJ Pitango, reaching a valuation of US$15 million.