AI start-up Vue.ai raises USD 17 Mn in Series B

AI-based startupVue.ai has picked up USD 17 million in a Series B funding round led by Falcon Edge Capital.

Sequoia Capital India and Global Brain also participated in the round. The proceeds will be used to grow the team, deliver on the product roadmap and scale the company’s existing customer base.

“Using a centralised data brain, the platform digitally maps a retail product’s DNA, then translates product information into language that teams can easily understand. With better accuracy and insights, retailers can easily decode the qualities of their merchandise, make intelligent updates on the fly, and deliver unique experiences along every step of the customer journey," said the company’s chief technology officer Chandrasekaran in a statement.

Vue.ai was launched by Ashwini Asokan and Anand Chandrasekaran in 2016. "The Vue.ai team is on a mission to put AI and intelligent automation in the hands of teams across the globe in ways that improve productivity and growth multi-fold. We've seen incredible growth in how they've brought this value across multiple functions in the retail industry in just two years since we started this journey with them," said Anandamoy Roychowdhary, director of Sequoia Capital India.

Source: Livemint