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Cosmose, a platform that analyzes foot traffic in physical stores, gets $15 million Series A

Cosmose, a platform that analyzes foot traffic in physical stores, gets $15 million Series A

Cosmose, a platform that tracks foot visitors in brick-and-mortar shops to assist firms predict buyer habits, introduced at present it has raised a $15 million Series A. The spherical was by Tiga Investments, with participation from returning traders OTB Ventures and TDJ Pitango, who co-led Cosmose’s seed spherical final 12 months. The firm mentioned its valuation is now greater than $100 million.

The Series A shall be used for product growth and geographic growth, beginning with Southeast Asian markets this 12 months, adopted by the Middle East and India. Chief government officer Miron Mironiuk, who based Cosmose in 2014, mentioned its purpose is to interrupt even and generate revenue by 2021.

Cosmose has places of work in Shanghai, Hong Kong, New York and Warsaw, the place is software program engineering crew is predicated. Most of the shops its tech is presently use in are in China and Japan, and its purchasers embrace firms like Walmart, Marriott, Samsung, and LVMH.

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As firms attempt to recuperate from the affect of COVID-19, Mironiuk mentioned Cosmose’s platform has helped purchasers make choices about when to reopen shops and how much stock to inventory, and learn how to improve income. For instance, ‘some retailers needed to attach with prospects who used to buy of their bodily areas and encourage them to purchase on-line,” he mentioned. “Hotels in Japan have been targeted on selling their in-house eating places to native residents to make up for the misplaced income.” The firm can also be working with Boston Consulting Group on a report known as “COVID-19 offline retail restoration visitors in China” for publication subsequent week.

Mironiuk mentioned {that a} PwC audit of the platform’s accuracy accomplished in December 2019 confirmed its capacity to trace prospects inside 1.6 meters of their location in a retailer, and that its knowledge ecosystem now includes of multiple billion smartphones and 360,000 shops. Cosmose’s plan is to develop that to 2 billion smartphones and 10 million shops by 2022.

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The firm presents three primary merchandise: Cosmose Analytics, which tracks prospects’ actions inside brick-and-mortar shops; Cosmose AI, an information analytics and prediction platform to assist retailers create advertising and marketing campaigns and improve gross sales; and Cosmose Media, for focusing on on-line adverts.

Cosmose doesn’t require {hardware} set up, which suggests no common upkeep is required after Cosmose maps a retailer, and helps it differentiate from rivals.

There are different firms that additionally analyze foot visitors in brick-and-mortar shops, together with RetailNext and ShopperTrak, however being tracked would possibly alarm prospects who’re involved about their privateness. Mironiuk mentioned the entire smartphone knowledge Cosmose AI gathers is anonymized, so the corporate doesn’t know who customers are. The platform makes use of alphanumeric IDs known as OMNIcookies, doesn’t acquire private knowledge like telephone MAC addresses, cell numbers, or e-mail addresses, and follows knowledge privateness legal guidelines in every of the international locations it operates in. It additionally permits customers to opt-out of monitoring.

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In a press assertion concerning the funding, Raymond Zage, the CEO and founding father of Tiga Investments, mentioned “I used to be attracted by the robust outcomes Cosmose is already attaining for a number of the world’s recognizable manufacturers, whereas concurrently guaranteeing consumer privateness is protected. Cosmose crew is saving shops whereas enhancing client expertise.”

EditorialTeam

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