Depict.ai, a provider of AI-based product recommendations for any e-commerce store without the need for historical sales data, has raised USD17 million in a Series A investment led by Tiger Global, with participation from Initialized Capital, EQT Ventures, Y Combinator and a team of angels.
The Series A investment comes a year after Depict.ai raised USD2.8 million in a seed funding round led by Initialized Capital, with participation from EQT Ventures, Y Combinator, and Northzone.
The new capital will be used to keep up with demand and enable Depict.ai’s rapidly growing team to bring its recommendation engine to the rest of the e-commerce world, starting with Europe and the US. It will also be used to further invest in the product.
Depict.ai has a long list of angel investors, including Fredrik Hjelm, CEO & Co-founder of Voi, Johannes Schildt, CEO & Co-founder of Kry, Carl Rivera, CEO & Co-founder of Tictail, Erik Bernhardsson, creator of the Spotify recommendation engine, Northzone, Nicolas Dessaigne, CEO & Co-founder of Algolia, Vidit Aatrey, CEO & Co-founder of Meesho, Joshua Browder, CEO & Founder of DoNotPay, Finbarr Taylor, CEO & Co-founder of Shogun.
