Mad Street Den, a startup that focuses on computer vision and artificial intelligence, has raised an undisclosed amount from Japanese telecom operator KDDI through KDDI Open Innovation Fund 2. The Indian-US startup, which was founded in Chennai, was founded in 2013 by a neuroscientist-designer duo, Dr Anand Chandrasekhar and Aswini Asokan.
Mad Street Den now plans to use the funds to improve their AI capabilities and grow their sales and marketing workforce.
Mad Street Den’s key product Vue.AI is a one-stop AI and image recognition platform for apparel retailers — from big department stores to online marketplaces — who are experiencing drastic operational changes due to rapidly increasing penetration of online commerce.
KDDI Japan announces it's investment in MadStreetDen enabling growth of @vue_ai across Asia. These are exciting times for both Computer Vision & Retail, and we're thrilled to GTM in new markets with 2 of our newest investors Global Brain-KDDI & Rocketship VC (SF)
— Mad Street Den (@MadStreetDen) September 5, 2018
“At KDDI, we are a company that continues to provide excitement as we move forward with the integration of telecommunications and life design. By investing in venture companies that can deploy services on a global scale, we help generate new business to create new customer experience value,” said the Japanese tech giant in an official statement.
Vue.AI offers products like data classification, catalogue data management. It also includes AI-based automated data-tagging with attributes, titles, descriptions, which drastically improve product discovery and searchability, reducing operational costs and the time required to digitise a product and go to market.
The solution also makes it easier to eliminate redundancy in the catalogue and provide a singular view of the entire inventory.
Its marquee product is a cutting-edge human model generator which is an AI-based product generating garment-to-model images, predicting how the garment fits. Vue.ai’s algorithms also analyse the extracted catalogue data with user behaviour and help the retailers’ marketing/product/cataloguing teams not only to automate their processes and reduce costs but also to drive conversions and to increase revenues. With the solution, fashion brands can provide their customers with a great user experience in online shopping, such as good retrieval accuracy or “AI stylist” which is an AI-based styling and outfitting solution.