Nibble Technology raises $3.3 million in a round backed by Venrex.

Nibble Technology, a London, UK-based software startup developing a an AI negotiation chatbot for ecommerce customer engagement raised $3.3 million in a seed funding round.

The money was raised from investors led by London-based VC firm Venrex and will be used to expand the company’s operations and business reach.

Nibble, founded in 2020 by Jamie Ettedgui and Rosie Bailey, developed a software tool used as a chatbot by eCommerce retailers, as it lets customers negotiate personalized prices on desired products or services. For the retailer, Nibble is an alternative to voucher codes while eengaging the customer in a fun way to get a great discount. The company says it was inspired by negotiation in a Turkish bazaar, with results in improved conversion by 50% for some of their clients. The tool works with Shopify stores or integrated with any others via a simple API that can be customised.