Mad Street Den, a leading AI-based tech company – has announced a fresh round of Series C funding of US $ 30 million led by Avatar Growth Capital with participation from existing investors Sequoia Capital and Alpha Wave Global Capital.
The investment will enable the company to expand its artificial intelligence (AI) offerings across industries while doubling down in the retail sector, where it has established itself as an AI leader, under the brand name Vue.ai.
It’s pertinent to mention Vue.ai has seen strong demand for its AI offerings over the past 24 months. New growth has been powered by continuous investment in new automation solutions for fashion and CPG customers across the globe.
Mad Street Den has collectively raised over US $ 50 million to date including US $ 17 million in its Series B round led by Alpha Wave in 2019.
The company is also backed by Global Brain, a Tokyo-based independent venture capital fund.
While announcing the funding news on LinkedIn Ashwini Asokan, Co-Founder of Mad Street Den, wrote, “We will continue to bring AI with large-scale impact to enterprises in 2023. Our mission has been to bring about meaningful impact through AI transformation to enterprises all over the world, sans all the hype, helping every team member and organization become AI-Native.”
