In a testament to our innovation and market potential, we are specializing in artificial intelligence solutions for visual analysis, is delighted to announce the successful closure of a $1.05 million funding round. The investment comes from notable venture capital firms and angel investors, including TechOne VC, Eleven Ventures, Flat6Labs, Domino VC, and Caucasus VC.
This achievement highlights our resilience and adaptability, following our first investment round just two years ago led by TechOne VC, with the participation of StartersHub, Startup Wise Guys, and EGIAD Angels. The diverse group of investors from different business sectors and various countries underscores our strong position in the market and our global reach.
Our flagship product, Wefresh, targets the retail industry by offering a cutting-edge solution designed to enhance retail operations. Utilizing advanced artificial intelligence and image processing technology, Wefresh provides real-time insights and data-driven predictions, enabling retailers to optimize their business operations. This technology is particularly effective in areas such as quality control, smart stock tracking, and ensuring product freshness.
Our approach to combining the output from image processing with data from IoT systems allows for proactive control and efficient stock planning, setting us apart from conventional image processing applications. Our partnership with Microsoft as a solution partner underscores our commitment to innovation and excellence in artificial intelligence and visual analysis.
As CognitiweAI OÜ Co-Founder and CEO Attila Algan expresses gratitude for the support from investors, stating, “We are thrilled to have the backing of these esteemed investors who share our vision. This funding will enable us to establish Cognitiwe as a market leader in AI-supported image processing technologies in the global market, and we are excited about the opportunities it opens up for us. Throughout our journey, while perfecting our product, we have also focused on the necessary infrastructure work to become a global player. We have signed contracts with local partners and global sales networks in many different regions of the world. As a result, we have gained significant visibility in various regions, from South America to Australia, from the Middle East to Europe. With the conclusion of our new investment round, we will focus on growth by both enhancing our team and engaging in more intensive activities to reach customers.”
Our impressive track record and commitment to innovation have positioned us as a global player in the AI retail industry. CognitiweAI OÜ remains dedicated to extending our reach to new markets, and this funding round marks a significant milestone in our journey.
