tech
Ex-Spotify employees raise $10M to bring the AI behind its recommendations to e-commerce
The startup's platform predicts which product a shopper wants next, learns their general taste, and fine-tunes continuously based on what they do in real time.
TL;DR
- Malachyte, founded by former Spotify AI engineers, has raised $10 million in seed funding.
- The startup's AI system, "two-headed Vector AI," predicts user intent and next actions in real-time for e-commerce.
- Unlike traditional personalization, Malachyte's system adapts instantly to user behavior within a single session.
- The technology has been tested with over 20 enterprise clients and is now available to Shopify merchants and larger retailers via API.
- The funding will be used to scale distribution and hire more product and commercial leaders.