Artificial intelligence startup Dashmote scores $2.8M in funding to analyze the visual web using AI
Dashmote, an Amsterdam-based applied AI insight platform startup that helps companies make complex decisions based on data gathered from images and text uploaded to the internet, has secured $2.8 million in funding. The round was led by a group of American and Chinese investors, including SP Investment Associates (SPIA), Three Curve Capital (TCC) and Gaomei Yunjing Investments.
Dashmote is already profitable and will use the funding exclusively to rapidly scale up. The company will double its number of employees from 45 to 90. The New York and Shanghai offices will increase in size, and new offices in the U.S. and Asia are planned to open in the near future.
The company will also use the fresh capital to expand its product portfolio. Dashmote’s AI technology is now predominantly serving image analytics for trend, brand, and location intelligence services. In the near future, the company intends to unlock information from online video material – another potentially inexhaustible source of insights for companies.
Dashmote was founded in 2014 in Amsterdam, The Netherlands by Dennis Tan (CEO), Matthäus Schreder (CPO), and Stefan Tan (CFO). Dashmote is the brainchild of curious rebels, created with the goal of decoding the visual web and extracting valuable insights from images. By deciphering the vast amount of digital data available through computer vision, Dashmote provides brands with comprehensive information concerning market trends, content performance and audience segmentation.
Dashmote’s mission is to lead people and companies through an AI and data-driven world. Every day, around three billion images are uploaded to the internet. Dashmote’s A.I. technology is capable of analyzing these images and gain valuable insights. With its SaaS-solution, Dashmote is already helping companies such as Heineken, Coca Cola, Unilever, and L’Oréal to understand their audiences and the market they move into.
Large companies that operate in consumer electronics, food and beverage, and cosmetics use Dashmote’s AI tools and analysis to sharpen their marketing efforts and upsell capabilities. The tool is used to discover market trends, operate an effective segmentation of the offer, and measure the audience engagement and sentiment.
With the new funding, Dashmote heads towards a bright future. “We are very pleased with the international group of investors. They are a great fit to support our ambition to solidify our position in existing markets and to roll out to new markets,” said Dennis Tan, CEO and co-founder of Dashmote. “With SPIA and Three Curve Capital, we not only receive funds to grow our business, but we will also benefit from their experience as venture and growth investors and their vast network. It is important for us that Gaomei also joined this round, considering our current footprint and plans in the Chinese market.”
The company headquarters is in Amsterdam with offices in New York, Vienna, and Shanghai.