A predictive AI startup founded by sisters Gonca and Gulsah Gulser has raised seed funding to expand across the UK and Germany.
Quin AI, which boasts Under Armour and Decathlon as customers, is headquartered in London as part of the UK government’s Global Entrepreneur Programme, with further offices in Hamburg and Istanbul.
The £582,000 funding was led by SFC Capital with participation from NCA, Logo VC and StartersHub.
The company’s technology predicts the behaviour of potential eCommerce customers in real-time – either through native pop-up or API integrations with existing engagement tools – allowing clients to react to events and changes as they take place without compromising on privacy.
Claiming to increase companies’ revenue by 30% in 15 days, Quin AI provides solutions for eCommerce businesses with traffic as low as 250,000 monthly visitors as well as larger businesses.
“We are very excited to close this round with an amazing team and group of investors in making easy, accessible, and privacy-safe ML applications to predict user behaviour,” said CEO Gulsah.
“We already started our journey with the eCommerce industry where there are massive amounts of untapped user data and increasing privacy concerns.”
Gulsah has 10+ years of experience in management consulting with a focus on customer strategy, while Gonca has spent 20 years as a data scientist specialising in customer behaviour analytics, including in eCommerce.
The idea for Quin AI was developed when sisters noticed in their research and business projects that traditional tools and technologies stay insufficient, especially when real-time engagement and personalisation for online visitors is required.
Edward Stevenson, investment manager of SFC Capital, added: “With the rising prevalence of data protection and the declining use of 3rd party data it is becoming much harder to target customers online.
“Quin AI have developed and deployed a solution that mitigates this problem, which enables online retailers to analyse the actions of customers on their websites in real-time and take actions that boost conversions and sales.
“We are excited to see what the future holds for Quin AI and the great team driving it forward.”