Qloo’s $25M Series C Funding Propels Taste AI Innovation
Cultural AI expert, Qloo, has successfully secured $25 million in Series C funding. Led by AI Ventures and featuring participation from prominent entities like AXA Venture Partners, Eldridge, and Moderne Ventures, this funding marks a significant milestone in Qloo’s journey as a pioneer in the evolving AI ecosystem.
Qloo’s forte lies in its sophisticated AI-powered insights engine, harnessing highly accurate behavioral data from consumers worldwide. With over half a billion attributes covering diverse categories such as consumer brands, music, film, TV, podcasts, dining, and travel, Qloo’s proprietary AI models identify trillions of connections between these entities. Notably, major brands like Netflix, Michelin, Samsung, and JCDecaux benefit from Qloo’s capabilities, gaining profound insights into customer tastes and preferences.
Crucially, Qloo navigates this landscape without compromising privacy, utilizing advancements that are increasingly pertinent in sectors like financial services, media and publishing, technology, and automotive. The demand for truthful and privacy-compliant AI solutions is soaring, and Qloo is at the forefront of delivering precisely that.
Alex Elias, Founder and CEO of Qloo, emphasizes the company’s commitment to merging cultural knowledge with advanced AI. “For over a decade, we have been committed to refining our cultural data science, and we are now entering an exhilarating phase of expansion, fueled by the growing importance of privacy and the democratization of AI technology,” says Elias.
The Series C funding positions Qloo to democratize AI further, introducing an accessible, self-service interface later this year. This move aims to make consumer and taste analytics available to small and mid-sized enterprises and individuals. Qloo’s ability to make accurate taste predictions, even with limited data, signifies a transformative shift in how AI comprehends our world and anticipates consumer preferences.
Liza Benson, Partner at Moderne Ventures, expresses enthusiasm about Qloo’s expansion into industries such as real estate, finance, and insurance. “It’s an exciting phase of growth, and we’re proud to be part of Qloo’s journey,” says Benson.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
