Prague-based AI startup DeepScout, which operates in e-commerce, has secured €600,000 in funding. Milton led the round, as Vestbee was told.
- Founded in 2023 by Jan Mittner, DeepScout is an AI-powered platform that helps e-commerce businesses optimize pricing and product assortment by providing insights based on competitor data.
- DeepScout claims that the platform collects and analyzes large amounts of data at a lower cost than traditional methods. The startup automates product pairing, even without unique EAN-type identifiers, by using AI/ML to structure, verify, and match data from multiple sources, including images.
"We can regularly monitor and analyse the product offerings of many players on the market and recommend specific actions in terms of product range and pricing to our clients," claims Jan Mittner, founder of DeepScout.
Details of the deal
- The investment round was led by Miton, a startup studio that initially invested €200,000 and had the option to invest an additional €400,000. Tomáš Hodboď, the founder of the fashion comparison platform Glami, oversees product development on behalf of Miton.
"When Jan Mittner came to us a year ago, we started working on validating the solution. The ability to offer actionable insights over big data is a topic that is also relevant in other areas, such as real estate pricing, leads for sales, and data for investors. Even these can be handled in a fully automated way today," Tomáš Hodboď, founder of Glami, commented in a press release.
- The funding will help DeepScout improve its AI platform, expand its team, and enhance data analytics. It will also support product refinement based on customer feedback and help the startup grow internationally.
