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Depict.Ai Raises $17M To Give E-Commerce Sites Amazon-Level Product Recommendation Muscle

PRIVATEFeb 24, 2022

Amount Raised

$17 Million

Round Type

Funding Round

StockholmSoftwareConsumer Goods

Description

Amazon rules the roost when it comes to e-commerce, not just because of its size but because of how it uses that to amass large amounts information that it in turn uses to continue feeding the machine with sophisticated product recommendations, relevant advertising, and more to keep people finding things to buy, and buying them. Today, a Stockholm-based startup called Depict.ai that has also built a product recommendation tool — which it believes can help any retailer sell like Amazon — is announcing funding of $17 million to feed its own growth in the U.S. an Europe, after picking up 60 customers including Office Depot and Staples.

Quick answer

Depict.Ai raised $17 Million in a Funding Round round, dated February 24, 2022. Depict.Ai is based in Stockholm, Stockholm County, Sweden.

How much did Depict.Ai raise?
Depict.Ai raised $17 Million in a Funding Round round on February 24, 2022.
What does Depict.Ai do?
Today, a Stockholm-based startup called Depict.ai that has also built a product recommendation tool — which it believes can help any retailer sell like Amazon — is announcing funding of $17 million to feed its own..
Where is Depict.Ai based and how big is it?
Depict.Ai is based in Stockholm, Stockholm County, Sweden.

Source: Fundz verified event record.

Who else raised in Consumer Goods and Software around the same time

Companies in the same sectors as Depict.Ai that raised within 45 days of this round, from Fundz verified event records.

  • SeeMetrics raised $6M (Seed) on April 6, 2022.
  • Schools raised $5M (Seed) on April 5, 2022.
  • Ready Set raised $29M (Funding Round) on April 5, 2022.
  • Procore Technologies raised an undisclosed amount (Funding Round) on April 4, 2022.
  • Shein raised $1B (Funding Round) on April 4, 2022.
  • Arena raised $14M (Series A) on March 30, 2022.

Who to call at Depict.Ai, and when

A new round usually means Depict.Ai is about to hire and buy. The teams that reach out first get the meeting.

  • An alert the day Depict.Ai raises, hires an executive or expands, scored against what you sell
  • The decision-makers there, with verified emails
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Company Information

Company

Depict.Ai

Location

Stockholm, Stockholm County, Sweden

About

Today, a Stockholm-based startup called Depict.ai that has also built a product recommendation tool — which it believes can help any retailer sell like Amazon — is announcing funding of $17 million to feed its own growth in the U.S. an Europe, after picking up 60 customers including Office Depot and Staples. It follows a seed funding round of $2.8 million that the company raised last year from Initialized, EQT Ventures, Northzone and Y Combinator, where Depict.ai was part of the first cohort to go through the program during a Covid-19 lockdown. But between noticing and figuring out (using AI) how to fix that gap between Amazon and the rest of the commerce world when it came to product data, and actually starting Depict.ai to turn that into a business, Edholm had another detour. Since starting Depict.ai, Edholm’s own star as an individual and founder of renown has only gone up: no surprise here, but he’s also now a Thiel Fellow.

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Depict.Ai raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals, including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications, based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 281,000+ organizations. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.