Cosmose AI, a platform that predicts and influences how people shop offline, has announced strategic investment from NEAR Foundation, specialists in Web3 technologies, valuing the company at $500 million.
The company said the investment will support the transition to a Web3 ecosystem including increased data protection for Cosmose users. Among its services, Cosmose AI gathers insights from smartphones to help understand offline shopping habits. The data analytics and prediction platform also seeks to help retailers create marketing campaigns and increase sales while Cosmose Media focuses on targeting online ads.
Through the partnership with NEAR Foundation, Cosmose Media and KaiKai are expected to advance Web3-driven innovations. KaiKai, a shopping app created by Cosmose, has already adopted NEAR Protocol’s technology in the form of its own cryptocurrency utilised for payments, cash-back and rewards: Kai-Ching.
Miron Mironiuk, Founder and CEO of Cosmose AI, said: “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 personalisation.”
Marieke Flament, CEO of Near Foundation, added: “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 personalisation 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.”
The latest investment follows a Series A fundraiser in 2020, led by Tiga Investments, OTB Ventures and TDJ Pitango. Since then, the company has expanded its product offerings and geographical footprint with the platform currently available for customers in mainland China, Hong Kong, Singapore, Japan and Southeast Asia.