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Singapore’s ViSenze raises $10.5M to bring the benefits of AI to e-commerce

There’s another round of funding for an artificial intelligence startup in Asia that’s focused on e-commerce: Singapore-based ViSenze has announced a $10.5 million Series B raise.

The startup was spun out of the National University of Singapore more than three years ago and it raised a $3.5 million Series A in February 2014.

ViSenze develops artificial intelligence for use in e-commerce, working with companies like Myntra in India and Zalora in Southeast Asia. Its first product was a visual search feature, and there are two new releases coming soon that will expand its focus to video and help retailers with off-site discovery, ViSenze CEO and co-founder Oliver Tan told TechCrunch.

Currently being tested in closed pilots, one of the new products will enable contextual advertising inside and around video content. That’s to say that content owners will be able to insert relevant advertising into their videos, while advertisers will be able to contextualize their web advertising by making it relevant to the videos that they appear against or near.

TechCrunch  (15 Sept)