AI shopping assistant Karma raises $25 million in Series A funding led by Target Global
AI shopping assistant and shopping network Karma announced that it has raised $25 million in Series A funding led by Target Global followed by MoreTech Ventures, with participation from existing investors including NFX and Altair Capital. Karma allows users to plan their next online purchases, get notified about real-time price and inventory updates, access coupons and earn automatic cashback.
The Tel Aviv-based company was founded in 2014 by Jonathan Friedman and Ronen Yuval-Hoch as a simple bookmarklet tool to help consumers save and track products. Since then, Karma has launched browser extensions, along with iOS and Android apps. The company now employs nearly 60 people across Tel Aviv, Minsk, Belarus and the U.S., and has grown to include over 30,000 retail partners, such as Apple, Nordstrom, Farefetch, Target and Nike.