Depict AI secured $2.7M in funding from EQT Ventures, Northzone and Initialized Capital.

Norway Sweden United States Investments 21 October 2020
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Depict AI, a Stockholm, Sweden-based SAAS developer for product recommendations for any e-commerce store, announced that it raised $2.7M in capital funding.

The money was raised from a range of Nordic and US-based investors, both VCs and angels, led by Initialized. EQT Ventures, Northzone, Johannes Schildt and Fredrik Hjelm were also contributors.

Depict AI, founded in 2019 by a (then) 17 years old Oliver Edholm and Anton Osika, built a software tool that provides Amazon-quality product recommendations for any e-commerce store. The solution uses an algorithm that can increase the overall e-commerce revenue by 4-6% for any store without needing any sales data at all.

Depict was part of Y Combinator in the summer of 2020.