Cosmose AI is a global platform company that predicts and influences how people shop offline that recently announced a strategic investment from NEAR Foundation (a leader in Web3 technologies), which valued the company at $500 million. With this new funding round, Cosmose is set to apply Web3 principles and further advance the AI-driven retail ecosystem.
Launched in 2014, Cosmose AI connects the best of offline and online for creating a seamless experience for shoppers and increase sales for retailers. And Cosmose works with prominent companies including LVMH, Richemont, L’Oréal, and Estée Lauder while also offering AI-driven recommendations to its users encouraging them to shop in nearby stores saving time, money, and the environment.
With the new funding round, Cosmose will continue to innovate within the Web3 ecosystem to create a seamless experience for shoppers and increase sales for retailers. And the NEAR Protocol is known as the most advanced blockchain technology available today, offering the fastest and most energy-efficient solutions for data storage and management. By utilizing the power of Web3, Cosmose is able to ensure that users maintain complete control over their data and benefit from the ecosystem they help create. This approach ensures the highest level of privacy for users and aligns with the Company’s commitment to user safety.
Through the partnership with NEAR Foundation, Cosmose Media and KaiKai (the two Cosmose AI products) will advance Web3-driven innovations. And KaiKai has been successfully utilizing NEAR Protocol through the creation of its own cryptocurrency utilized for payments, cash-back, and rewards: Kai-Ching. Thanks to Kai-Ching, shoppers and retailers benefit from shorter payment processing times and significantly lower fees.
This announcement follows a Series A fundraise earlier in 2020, led by Tiga Investments, OTB Ventures, and TDJ Pitango. And since then, the company expanded its product offerings and geographical footprint with the platform currently available for customers in mainland China, Hong Kong, Singapore, Japan, and Southeast Asia. Plus Cosmose AI gathers insights from smartphones and helps understand offline shopping habits and drive footfall across 20 million venues in Asia.
KEY QUOTES:
“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 personalization.”
— Miron Mironiuk, Founder and CEO of Cosmose AI
“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 personalization 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.”
— Marieke Flament, CEO of Near Foundation
“This strategic investment from NEAR is a testament to the strength of Cosmose AI’s technology and the potential for its artificial intelligence solutions to revolutionize the convergence of e-commerce and the retail industry. We look forward to seeing the continued growth and success of Cosmose AI.”
— George Raymond Zage III, Founder and CEO Tiga Investments
