Adeptmind announces US$6.2 million in Series A funding

On June 3, 2021, Adeptmind, a leading AI retail technology company creating advanced digital discovery solutions for retailers and shopping centres, announced a US$6.2 million Series A investment.

This raise was led by Boston-based VC firm Innospark Ventures, and included support from property technology firms A/O PropTech and Pi Labs, as well as an investment by leading beauty retailer, Ulta Beauty. The funding will accelerate the research and development of new tools that will amplify personalization and shopper intent, enhance marketing, and drive innovation for the underserved physical shopping experience.

As a leading AI based, e-commerce product discovery company, Adeptmind uses state-of-the-art active and deep learning techniques to enhance the customer purchasing journey. Located in Toronto, Adeptmind supports more than 400 retailers, shopping centres, and small and medium size businesses with innovative technology around the world.

Todd Bissett and Marco Wai of Gowling WLG advised Adeptmind with respect to this funding.