Bulgarian venture capital (VC) firm Eleven Ventures invested 400,000 euro ($432,100) in Estonia-
based predictive vision AI platform Cognitiwe as part of a 1 million euro funding round.
Cognitiwe plans to use the financial injection to expand into new markets and retail segments while
implementing additional features and improving its technical capabilities, the Eleven Ventures
representative said in response to a SeeNews enquiry.
The platform intends to expand into the EU first by strengthening its team and infrastructure. It will
create local teams in markets in Southern Europe and the Gulf Region, with the aim of reaching
the US market in the long term. Cognitiwe will also add fraud and shrinkage detection features and
will step into retailer segments such as cosmetics and electronics.
Founded in 2021, Talinn-based Cognitiwe seeks to redefine the retail landscape by revolutionising
efficiency and sustainability and minimising food waste. The company uses internet protocol
cameras to provide real-time insights and predictions that improve the daily operations of retailers
and manufacturers.
Source: https://seenews.com/news/bulgarias-eleven-ventures-invests-in-cognitiwe-849181
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