Vue. ai, an Indian-US startup that develops artificial intelligence platforms to help online retailers work more efficiently and sell more, raised $17 million in a Series B funding this week. This round was led by Falcon Edge Capital, with participation from existing investors Sequoia and Global Brains (KDDI Japan). Vue.ai is a part of Mad Street Den, which was founded in Chennai in 2013 by a neuroscientist-designer duo, Dr Anand Chandrasekhar and Aswini Asokan.
It's a big day here at the https://t.co/830XK5vDX8 office! We're very excited to announce our series B. We welcome Falcon Edge Capital to our board joining @Sequoia_India and @ExfinityVP. You can read more here >> https://t.co/FRSpclFOhd pic.twitter.com/1gqSWW0LPi
— vue.ai (@vue_ai) April 25, 2019
Over the last one year, Vue.ai has worked with brands like ThredUp, Zilingo, Tata and Macy’s, and helped them with product digitisation, merchandising, styling and marketing workflows.
“With our product digitisation and merchandising, customers have grown sales over four times in specific categories and reduced return rates. Our stylist curation and personalised outfitting tools have help subscription box models thrive, opening up personal styling, which was once accessible only to celebrities, to customers everywhere. Our AI stylist has curated over 2.5 billion outfits, improved customer retention while simultaneously allowing a handful of stylists and product managers to provide personalised styling to every one of their customers, with our style profile and taste graph driven engines,” said Aswini Asokan, the CEO of Vue.ai.
With the new round of funding, Asokan now says that they are ready to take their brand global in 2019. “We’re already working closely with retailers who are changing the course of retail across North America, Europe, Latin America, Middle East and Asia. This year you’ll see reps from our teams in your cities, events that help create the perfect setting for conversations, demonstrating the value of AI to businesses,” Asokan added.
