More GenAI updates, palm reading Amazon, and AI shopping with Google
Greetings, Pulse Subscribers!
The dog days of summer are here. Tired of jokes about the heat yet? Cause we’re just getting warmed up! Here’s the agenda:
A more secure AI
Better recommendations = more sales
Tax refund!
Recirculating baby gear
AI shopping with Google
Palm reading with Amazon
Stay cool out there; let’s go!
Startup Deals
Generative AI for Enterprise | With the ability to create content quickly and reliably, generative AI has been a revelation for businesses of all kinds. That said, there’s no shortage of startups offering generative AI solutions for enterprise customers. What makes Typeface unique is both its ability to personalize multi-modal content and its enterprise-grade security considerations. With the Typeface platform, users upload assets and guidelines for “on-brand” text and image generation and can immediately start using content that matches the brand's voice and style. And given that the platform provides a dedicated underlying AI model in a private cloud for each customer, data, and assets remain private. Last month, Typeface closed a $100 million Series B at a valuation of $1B led by Salesforce Ventures with participation from Lightspeed Venture Partners, Madrona, GV, Menlo Ventures, and M12 (Microsoft’s Venture Fund).
Improving Recommender Systems | Retailers love recommender systems! If customers are already buying from a business, offering them something else they might like can make for an easy sale. However, if your recommender system suggests ski jackets in June, for example, figuring out the issue can be a major hassle for the business. Enter Rubber Ducky Labs. Rubber Ducky Labs is a San Francisco-based startup that provides tools to debug, analyze, and improve recommender systems. This allows machine learning teams to move faster on projects that have a direct impact on the company’s bottom line because, after all, better recommendations mean higher sales. Rubber Ducky Labs recently raised a $1.5 million Seed round led by Bain Capital Ventures with participation from Cadenza Ventures and Y Combinator.
VAT Refund | When shopping abroad, many countries include a Value-Added Tax (VAT) on purchases. This cost can add up quickly, especially in places like Europe, where the European Union requires its member countries to charge a VAT rate of at least 15%! Luckily, as a foreign traveler, you can get the VAT refunded, and utu is here to make that process easier. Utu is a travel tech company that has created partnerships with travel, hotel chain, and retail brands to help travelers get more out of their shopping. How exactly? Utu offers a tax-free card that allows shoppers to: a) opt for frequent flier miles or hotel points instead of VAT refunds and b) select an immediate store voucher equaling 120% of the VAT they initially paid. Utu says that retailers, airlines, hotels, and other organizations that partner with them can not only increase customer loyalty but also grow their revenue from tourist shopping by up to 40%. Utu recently raised a $33 million Series B from a set of investors that included SC Ventures.
Used Baby & Kids Gear | Kids grow up and grow out of strollers, toys, and well, just about everything, super quickly. GoodBuy Gear, a Denver-based start-up, enables parents, brands, and retailers to safely and sustainably recirculate quality but used baby and kid products. Parents can schedule a pick-up or drop-off for the goods they’re looking to sell, and then GoodBuy Gear photographs, prices, and lists the goods on their website on the parents’ behalf. Moreover, the startup handles all communications and shipping to the buyer within the U.S. while only taking 15% of the sale. GoodBuy Gear recently raised $14 million in funding co-led by Interlock Partners and existing investor Revolution Ventures.
Essential Reads
For most shoppers, finding exactly what they want is easier in-store. They often appreciate the ability to try on different sizes of the same piece or ask an associate if the shirt they love comes in red, conveniently and in real-time. This is hard to recreate online, but Google is trying to bridge the gap. In this essential read, Google introduces two new AI shopping features that allow users to see exactly how the clothes they’re interested in will look on real-life models and find exactly what they’re looking for in stores across the web. While it might not be in-store, it's certainly a step closer.
Read about Google’s new AI shopping here.
Amazon One has found a way to let users pay in-store with just a wave of their palm! And it doesn’t stop there! The same technology can be used to present a loyalty card, enter a location, badge into work, and more. In this essential read, Amazon unveils its newest Amazon One offering: palm-reading identity service. Already available at Coors Field, Amazon One users can now upload their ID to the service and use their palm to prove their age AND make a purchase, no fumbling for a wallet required. High five! Because that’s all it takes to buy a beer with Amazon One.
Read about Amazon One age verification here.
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