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- Daydream Raises $50M to Revolutionize Online Shopping with AI
Daydream Raises $50M to Revolutionize Online Shopping with AI
Slice of Retail Team
June 26, 2024
Key Highlights:
Daydream raises $50M seed round co-led by Forerunner Ventures and Index Ventures.
AI-powered platform to provide personalized shopping experience for women's and men's fashion.
Over 2,000 brands partnered for launch, leveraging AI, machine learning, and computer vision.
Daydream's founding team includes leaders from Google, Microsoft, Amazon, and more.
Public launch expected this fall, with a private beta starting today.
Source (PR Newswire)
Notable Quotes:
"I have always been particularly obsessed with search and personalization and could not be more excited for the massive gains in AI over the past year."
"We believe that search will transition to service, with the search giants dominating the space losing market share to new entrants providing personalized, AI-driven services."
"The depth of experience across the founder team, combined with a rare understanding of the relevant technology, gives them a strong foundation to transform this enormous industry."
"Eighty-eight percent of shoppers are more likely to visit sites that personalize their experience. Daydream takes a new AI-driven approach to create a better shopping experience online with highly-curated product recommendations. We believe the winners in this new technology chapter will be those who deeply understand consumer AI and search trends, and the Daydream team has unparalleled domain expertise in this area."
Our Take:
The launch of Daydream marks a significant milestone in the evolution of online shopping, driven by AI and machine learning technologies. By focusing on a personalized and intuitive shopping experience, Daydream addresses many pain points of traditional e-commerce platforms. The strong backing from leading venture firms and the impressive lineup of industry veterans on the founding team position Daydream to set new standards in the e-commerce landscape. With the growing importance of AI in enhancing user experiences, Daydream is poised to become a game-changer in how consumers interact with online retail.