The AI-Driven Styling Platform Attracted Investors With a Proven Mix of Traditional and Cutting-Edge Uses of Generative AI
AI-driven styling platform FindMine, a participant in LVMH’s La Maison de Startups, recently concluded a Series A funding round, securing $8.9 million.
Grayhawk Ventures led the round, bringing FindMine’s total funding to $17.6 million. Other contributors to the Series A round include Grayhawk Capital, Frazier Capital, PJC, and angel investors Sarah Wallis and Vikas Gupta, among others. These investments supplement previous funding from entities such as Adidas Ventures, XRC Labs, RevTech Equity for Women Fund, and Amplifyher Ventures.
While FindMine operates in the domain of artificial intelligence, CEO and co-founder Michelle Bacharach stresses a departure from conventional AI applications. Established in 2014 and operational with clients since 2016, FindMine predates the recent surge in generative AI technologies, and offers a unique utilization of discriminative AI models and supervised machine learning, requiring structured data, distinguishing it from newer AI trends.
FindMine’s distinctive approach blends traditional AI techniques with modern generative models, leveraging both structured and unstructured data for enhanced product understanding and visualization. This capability resonates with brands grappling with data complexity, offering a solution to streamline and interpret vast datasets.
FindMine’s impact extends beyond its clientele, contributing to substantial revenue generation and increased user engagement across diverse sectors of the fashion industry. Notable success stories include sales boosts for DXL and a significant reduction in excess inventory for a major brand, underscoring the platform’s efficacy in driving tangible business outcomes.
With a growing client base spanning multiple regions and industries, including prominent brands like Lululemon and Lands’ End, FindMine continues to solidify its position as a leader in AI-driven styling solutions.
