Cosmose, the firm based out of Warsaw and Shanghai, that reads and predicts offline shopping trends has announced securing $15 million as part of Series A financing. Tiga Investments is leading the current round with participation from returning investors OTB Ventures and TDJ Pitango.
Before this round, Cosmose had raised multiple seed round investments along with one angle round financing as well. It had secured $12 million in seed capital last year in December which was led by TDJ Pitango Ventures. The current financing takes the total amount raised by the firm to $27 million.
Miron Mironiuk founded the firm in 2014 as a data analytics platform to predict the shopping behavior of consumers who are not buying the products online and instead prefer shopping by going to the stores. The firm has been offering services in countries like China and Japan to the clients that include likes of Walmart, Marriott, Samsung, and LVMH.
The firm operates from multiple positions with offices in Shanghai, Hong Kong, New York, and Warsaw. The latest capital will be used for the development of the product along with the firm's geographic expansion, starting with Southeast Asian markets. The firm also plans to expand its wings in the Middle East and India.
Mironiuk, the CEO of the firm talking about the firm said that 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.”
Tiga Investments' CEO and founder Raymond Zage, commenting on the financing said that "I was attracted by the strong results Cosmose is already achieving for some of the world’s recognizable brands, while simultaneously ensuring user privacy is protected. Cosmose team is saving stores while enhancing the consumer experience.”
As the markets and economy around the world start to open slowly, the fund for Cosmose has come at a perfect time. Now, it will be interesting to see how they utilize the same.
Image courtesy: VentureBeat