Ocula, a Belfast-based startup using AI large language models with the goal of boosting ecommerce return on investment, has raised £3.25m.
Founded in 2021, Ocula works with digital teams from retail platforms such as Boots, AO and Hornby.
The startup claims its AI tool, Ocula Boost, can generate improvements to product pages, including drafting product descriptions designed to maximise search engine optimisation (SEO).
“Users consistently tell us that our generative AI is levelling the playing field with their most advanced competitors,” said Ocula co-founder and CEO Thomas McKenna.
“We’ve achieved this by bringing together some of the brightest science, engineering and product talent in the UK and beyond.”
The startup said it has secured more than 25 major retail customers so far and hopes to triple its client base over the next two years.
The Series A investment came from Manchester VC Praetura Ventures, with additional backing from Castlenau Group and Lloyds Banking Group.
“AI’s role within ecommerce has grown exponentially over the past several years. There’s now a wealth of incredibly exciting developments for retailers of all sizes,” said Peter Carway, investment director at Praetura Ventures.
“Having invested in this space before, we were drawn to Ocula’s proposition and suite of highly sophisticated products as well as the strength of Ocula’s co-founders Thomas and Gregory, who we’re looking forward to supporting with more than money.”
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