Karma, a Tel Aviv, Israel-based browser-based AI shopping assistant and shopping network, closed a $25M Series-A funding.
The round was led by Target Global followed by MoreTech Ventures, with participation from existing investors including NFX and Altair Capital.
The company will use the funding to grow its team, double down on AI, machine learning and predictive analytics, scale its userbase, and expand into adjacent market opportunities.
Led by Jonathan Friedman, co-founder, and chief executive officer, Karma provides a smart digital shopping assistant that offers an AI-powered shopping tool in one universal app across all devices. It empowers consumers’ shopping decisions through a clever shopping planner, automatic coupon finder, cash rewards, price/inventory tracking with more innovative features in the works.
The company also helps boost sales, deliver new customers and lower shopping cart abandonment for more than 20,000 retail partners on its unified shopping network, including Sephora, Overstock, Net-A-Porter, Urban Outfitters, Farfetch, and Macy’s.