Lily AI, a retail technology platform specializing in AI solutions for retailers and brands, has closed a $20 million Series B-Prime financing round led by Conductive Ventures, marking a significant milestone for the company’s growth trajectory.
Team and Founders
Founded by Purva Gupta, Lily AI boasts a visionary team dedicated to powering the future of commerce. With strong leadership and expertise in AI technology, the team has successfully propelled Lily AI to become a leader in the retail AI sector.
Backers and Investors
The Series B-1 funding round saw participation from prominent investors including Conductive Ventures, Counterpart Ventures, Cendana Capital, and Transform Capital, along with existing investors Canaan, Sorenson Capital, and NEA. This diverse group of backers underscores the confidence in Lily AI’s innovative approach and market potential.
Investment Plans
With the newly secured funding, Lily AI aims to expand its footprint in international markets, integrate with social and eCommerce platforms, and strengthen its engineering team to deliver cutting-edge AI solutions across the retail value chain. This investment will enable Lily AI to further enhance customer experiences and drive business efficiency for retailers.
Industry Impact
Lily AI’s customer-centered retail AI platform has already demonstrated triple-digit year-over-year growth and significant expansion among globally recognized retail brands. By bridging the gap between merchant-speak and customer-speak, Lily AI is poised to revolutionize the retail industry and deliver substantial ROI for its clients.
Conclusion
The successful Series B-1 funding round signifies a vote of confidence in Lily AI‘s vision and capabilities. With a strong financial backing and a focus on innovation, Lily AI is well-positioned to drive forward the future of commerce and continue delivering value to retailers and brands worldwide.
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FAQs
Q1. What sets Lily AI apart from other retail AI solutions?
Lily AI leverages generative AI, computer vision, natural language processing, and deep learning to enhance shopping experiences by injecting human-centered language throughout the retail ecosystem, maximizing technology investments for retailers.
Q2. How will Lily AI use the investment to expand its offerings?
Lily AI plans to extend its leadership into international markets, integrate with social and eCommerce platforms, and accelerate the development of enterprise-grade AI solutions across the retail value chain to drive growth and innovation.
