Cosmose AI closes Series A round and eyes Asia expansion

European retail tech startup Cosmose AI has completed a $15 million Series A investment round, valuing the company in excess of $100 million.

This was led by institutional capital from Tiga Investments, OTB Ventures and TDJ Pitango, and supported by a number of unnamed ultra-high net worth individuals in Asia. The investment will support expansion in Asia.

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Founded in 2014, Cosmose AI is an analytics software provider that anticipates how people shop offline. Late last year, it raised $12 million seed investment, led by TDJ Pitango and OTB Ventures, to fund its international expansion.

In recent months, it has entered into commercial engagements with Marriott and Walmart to help them understand offline shopping habits and drive footfall.

Miron Mironiuk, CEO and Founder, Cosmose AI, says:“Today is an important milestone for us and a big boost for retailers looking for ways to recover from the pandemic.”

“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.”

Raymond Zage, CEO and Founder, Tiga Investments, comments: “Cosmose is a unique technology proposition at a time that retailers in Asia are craving innovation.”

“I was attracted by the strong results it is already achieving for some of the world’s most recognisable brands, while simultaneously ensuring user privacy is protected. The Cosmose team is saving stores while enhancing the consumer experience.”