Cosmose partners with Near
Cosmose partners with Near Foundation to expand the application of AI in Consumer Retail. Cosmose was valued at $500m in the Latest Strategic Investment. The investment will support the transition to the Web3 ecosystem for a better experience and data protection for Cosmose users.
Cosmose AI (“Cosmose” or “the Company”), the global platform that predicts and influences how people shop offline, today announced the strategic investment from NEAR Foundation, a leader in Web3 technologies, valuing the company at $500 million. With this new investment, Cosmose is set to apply Web3 principles and further advance the AI-driven retail ecosystem.
Founded in 2014, Cosmose AI connects the best of offline and online to create a seamless experience for shoppers and increase sales for retailers. Cosmose empowers some of the world’s most prominent companies including LVMH, Richemont, L’Oréal and Estée Lauder, whilst also offering AI-driven recommendations to its users encouraging them to shop in nearby stores saving time, money, and the environment.
With the new investment, Cosmose will continue to innovate within the Web3 ecosystem. It will also create a seamless experience for shoppers and increase sales for retailers. NEAR Protocol is the most advanced blockchain technology available today, offering the fastest and most energy-efficient solutions for data storage and management. By leveraging the power of Web3, Cosmose can ensure that users maintain complete control over their data and benefit from the ecosystem they help create. This approach ensures the highest level of privacy for users and aligns with the Company’s commitment to user safety.
Through the partnership with NEAR Foundation, Cosmose Media, and KaiKai, the two Cosmose AI products, will advance Web3-driven innovations. KaiKai has been successfully leveraging NEAR Protocol through the creation of its cryptocurrency utilized for payments, cash-back, and rewards: Kai-Ching. Thanks to Kai-Ching, shoppers and retailers benefit from shorter payment processing times and significantly lower fees.
We are grateful for the ongoing support from NEAR Foundation and are excited about what’s to come. NEAR is the most secure, scalable, and sustainable blockchain protocol. Having built on NEAR in 2022 and while working with NEAR Foundation we discovered that our visions for the Web3-driven future are aligned. Together, NEAR and Cosmose AI will build a future where more than 1 billion users can benefit from the ecosystem they are part of, remain in full control of their data, and have a superior shopping experience thanks to AI-driven personalization.”—Miron Mironiuk, Founder and CEO of Cosmose AI
“We are excited to be supporting Cosmose as it continues to scale rapidly and to create new ways for retailers to offer customers the best and most seamless offline and online shopping experiences. The company’s excellent AI innovation will help to intensify its global marketplace lead and with our support – give it the means to leverage the full potential of Web3 in a way that is sustainable, transparent, and infinitely scalable. The company already boasts a strong user base – and with superior AI-driven personalization that number will continue to grow – as new and existing customers will be seamlessly transitioned into the world of Web3 and the exciting opportunities it brings.”—Marieke Flament, CEO of Near Foundation
“This strategic investment from NEAR is a testament to the strength of Cosmose AI’s technology and the potential for its artificial intelligence solutions to revolutionize the convergence of e-commerce and the retail industry. We look forward to seeing the continued growth and success of Cosmose AI.”—George Raymond Zage III, Founder and CEO of Tiga Investments
ABOUT Cosmose AI
Cosmose AI connects the best of offline and online to create a seamless experience for shoppers and increase sales for retailers. Cosmose AI employs world-class talents in its offices in Paris, Warsaw, Singapore, Hong Kong, Shanghai, and Tokyo. It also includes winners of international programming competitions ACM ICPC and IOI. The Cosmose AI empowers some of the world’s most prominent companies including LVMH, Richemont, L’Oréal and Estée Lauder. Whilst also offering AI-driven recommendations to its users encouraging them to shop in nearby stores saving time, money, and the environment.
ABOUT Near Foundation
The Near Foundation is a Swiss non-profit that supports the ongoing growth and development of the Near Protocol. It is a high-performance carbon-neutral blockchain that is designed to be super-fast, incredibly secure, and infinitely scalable. Near is built by an award-winning team of engineers and entrepreneurs to be simple to use, inclusive, and good for the environment.