DeepScout, a Prague-based AI startup, has secured €600k in funding to boost e-commerce pricing and assortment methods with its automated market intelligence platform.
The spherical was led by startup studio Miton, which invested €200K upfront with an choice for a further €400K.
Jan Mittner, who beforehand based and bought Jízdomat (acquired by BlaBlaCar) and Proudly (acquired by Welcome to the Jungle), sees DeepScout as a game-changer for on-line retail. “We will commonly monitor and analyse the product choices of many gamers in the marketplace and advocate particular actions by way of product vary and pricing to our purchasers,” he stated.
Based in 2023 by serial entrepreneur Jan Mittner, DeepScout allows e-shops to entry real-time market and competitor knowledge reportedly at a fraction of the present price. The AI-powered platform automates product matching, worth monitoring, and strategic suggestions, making it simpler for on-line retailers to optimise their choices.
One among DeepScout’s standout options is its potential to pair merchandise from completely different sources while not having an ordinary identifier like an EAN code. The platform makes use of AI/ML know-how to extract, clear, and match knowledge, even leveraging photos to find out product similarities at scale.
“The device makes use of state-of-the-art AI/ML know-how to the utmost extent potential. This enables it to extract knowledge in a structured type, verify its high quality, pair merchandise, be taught from suggestions, and so forth totally automatedly. For instance, when matching merchandise, it makes use of all accessible knowledge, together with photos from galleries, and decides whether or not they’re the identical product or not. Much like a human. It simply does it on a scale of hundreds of thousands of merchandise,” defined Mittner.
Miton, identified for backing profitable startups like Glami and crowdfunding platform Donio, is enjoying an energetic function in DeepScout’s development.
Tomáš Hodboď, a Miton associate and former Glami Founder, is main product improvement.
“Distinctive and clear datasets might be a key component within the new period of the Web, which might be formed by language fashions. We now see nice alternatives in knowledge specialisation, high quality and accuracy. When Jan Mittner got here to us a yr in the past, we began engaged on validating the answer. Constructing ‘SimilarWeb for e-commerce’ is step one,” says Tomáš Hodboď. “However we don’t need to cease there. The flexibility to supply actionable insights over huge knowledge is a subject that can also be related in different areas, resembling actual property pricing, leads for gross sales, and knowledge for traders. Even these could be dealt with in a completely automated method right now.”
Although nonetheless within the early phases, DeepScout already has paying clients in Czechia and has begun serving worldwide purchasers. The startup goals to refine its product domestically earlier than increasing additional.
“Over the following few months, we’ll fine-tune the product primarily based on suggestions from the Czech market after which head overseas. We now have already gone there. We’re already offering knowledge from international markets for a number of purchasers, and it’s simply as straightforward as it’s in Czechia. So our ambitions are decidedly international,” concluded Mittner.
