Cosmose AI announces major funding round

Artificial intelligence startup Cosmose AI has raised $12 million seed investment, led by TDJ Pitango and OTB Ventures, to fund its international expansion.

The company allows brands to track offline visitors, including competitors, target them with ads via WeChat, Weibo, FB, Google etc. and measure how online campaigns impact offline visits and sales. Customers include LVMH, Kering, Estée Lauder, Samsung, L’Oréal, P&G, Nestle and Coca Cola.

Miron Mironiuk, CEO and Founder, Cosmose AI, says: “We are taking advantage of AI’s capabilities to help the $30 trillion+ global retail industry. Machine learning allows us to increase the accuracy of location positioning to 1.6 metres, predict who is likely to visit a certain store and how to provide relevant consumer experience. In China we’ve seen great results from retailers using Cosmose and now we are setting our sights further afield as we take on this new investment.”

Adam Niewinski, Managing Partner at OTB Ventures, comments: “Cosmose is a perfect example of our strategy, investing only in companies with globally unique and superior technology that can disrupt legacy markets. It combines accuracy with simplicity on an unprecedented scale and therefore disrupting marketing and retail.”

The venture has also added Ohad Finkelstein and Raymond Zage to its board. The former currently serves as an advisor to the CEO of Walmart, a board member of OneWeb and co-founded Marker, which merged with Eric Shmidt’s Innovation Endeavors in 2018. Zage is a former CEO at Farallon Capital Asia and a member of the boards of Go-Jek and Toshiba.