Cosmose AI, which uses smartphone data to predict offline shopping behaviour, has raised $15 million in a Series A funding round.

Valuing the company in excess of $100 million, the investment was led by Tiga Investments, OTB Ventures and TDJ Pitango, supported by several high net worth individuals in Asia.

Founded in 2014, the Warsaw and Shanghai-based company harnesses anonymous mobile user IDs and high precision location data to provide information to companies like LVMH, Richemont, Walmart, L’Oreal and Samsung.

The Cosmose platform gathers anonymised data on consumer behaviour to help retailers inform their sales and advertising strategies, retain customer base and improve the in-store shopping experience.

Earlier this year, the platform gathered data from over 360,000 stores - including over 600 luxury and beauty brands and major shopping malls in mainland China, Hong Kong, and Macau - to assess how brands can recover from the fall in retail as a result of COVID-19 lockdown restrictions.

It currently gathers insights from over one billion smartphones and 360,000 stores. By 2022 the company aims to expand its ecosystem to over two billion smartphones and 10 million stores across Asia.

Miron Mironiuk, chief executive and founder of Cosmose AI, said: “Machine learning is the foundation of everything we do, and I am proud that our technology can help the retail industry in this challenging environment.

"We are seeing great momentum across Asia and, with the backing of the world’s largest companies, I look forward to a bright and profitable future in retail.”

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