DeepScout, a Prague-based AI startup, has secured €600k in funding to boost e-commerce pricing and assortment methods with its automated market intelligence platform.
The spherical was led by startup studio Miton, which invested €200K upfront with an possibility for a further €400K.
Jan Mittner, who beforehand based and bought Jízdomat (acquired by BlaBlaCar) and Proudly (acquired by Welcome to the Jungle), sees DeepScout as a game-changer for on-line retail. “We will frequently monitor and analyse the product choices of many gamers in the marketplace and advocate particular actions by way of product vary and pricing to our shoppers,” he stated.
Based in 2023 by serial entrepreneur Jan Mittner, DeepScout permits e-shops to entry real-time market and competitor knowledge reportedly at a fraction of the present price. The AI-powered platform automates product matching, worth monitoring, and strategic suggestions, making it simpler for on-line retailers to optimise their choices.
One in every of DeepScout’s standout options is its potential to pair merchandise from completely different sources while not having a normal identifier like an EAN code. The platform makes use of AI/ML expertise to extract, clear, and match knowledge, even leveraging pictures to find out product similarities at scale.
“The device makes use of state-of-the-art AI/ML expertise to the utmost extent potential. This enables it to extract knowledge in a structured kind, test its high quality, pair merchandise, be taught from suggestions, and so forth totally automatedly. For instance, when matching merchandise, it makes use of all out there knowledge, together with pictures from galleries, and decides whether or not they’re the identical product or not. Much like a human. It simply does it on a scale of tens of millions of merchandise,” defined Mittner.
Miton, identified for backing profitable startups like Glami and crowdfunding platform Donio, is taking part in an energetic function in DeepScout’s development.
Tomáš Hodboď, a Miton accomplice and former Glami Founder, is main product growth.
“Distinctive and clear datasets shall be a key factor within the new period of the Web, which shall be formed by language fashions. We now see nice alternatives in knowledge specialisation, high quality and accuracy. When Jan Mittner got here to us a 12 months in the past, we began engaged on validating the answer. Constructing ‘SimilarWeb for e-commerce’ is step one,” says Tomáš Hodboď. “However we don’t need to cease there. The flexibility to supply actionable insights over huge knowledge is a subject that can be related in different areas, comparable to actual property pricing, leads for gross sales, and knowledge for buyers. Even these might be dealt with in a completely automated approach in the present day.”
Although nonetheless within the early phases, DeepScout already has paying clients in Czechia and has begun serving worldwide shoppers. The startup goals to refine its product domestically earlier than increasing additional.
“Over the subsequent few months, we are going to fine-tune the product based mostly on suggestions from the Czech market after which head overseas. We have now already gone there. We’re already offering knowledge from international markets for a number of shoppers, and it’s simply as simple as it’s in Czechia. So our ambitions are decidedly world,” concluded Mittner.
