Twiggle uses artificial intelligence and natural language processing to simulate human understanding to e-commerce search. It is built on both human-like understanding of linguistic structure and a deep retail awareness to allow search engines to mimic how an experienced salesperson would behave.
The company has raised $35 million in 4 funding rounds, according to Crunchbase. Alibaba invested over $5 million in a Series A in 2016, and the Chinese fund MizMaa invested $15 million in a Series B, together with Korea Investment Partners.
CEO Amir Konigsberg stated that customers are top-tier e-commerce companies in the US, Europe and Asia, and that the most recent MizMaa and Korea Investment Partners' investment will help the company expand in Asia.
Having set up about a year ago, MizMaa has been operating under the radar until now. MizMaa has set up a $100 million fund to invest in Israeli technology, largely funded by three Chinese families. The fund has already invested in six startups and has plans to invest further in cyber security, auto technology, fintech, AI, cloud computing, and robotics. MizMaa has plans to raise $150 million for another fund.
The fund is led by industry veterans Catherine Leung, based in China, and Isaac Applbaum, based in San Francisco. Disclosed investments are: Armeron, Corephotonics, Coronet, and Twiggle. The fund is expected to announce two more investments in the near future, one of them in fintech.
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