Karma, a Tel Aviv, Israel-based AI shopping assistant, and shopping network, raised $25 million in Series A.
The round was led by Target Global, followed by MoreTech Ventures, with participation from existing investors including NFX and Altair Capital.
With this latest round of funding, Karma will focus on doubling the size of its team within the next year. The company also plans to add more features to the tool in the future and continue to heavily invest in AI and machine learning. Additionally, Karma will focus on finding ways to grow its userbase.
Company: Shoptagr Ltd.
Round: Series A
Funding Month: October 2021
Lead investors: Target Global
Additional Investors: MoreTech Ventures, NFX, and Altair Capital
Company Website: https://www.karmanow.com/
Software Category: AI shopping assistant and shopping network
About the Company: Karma, a 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. Karma currently has around three million customers and around 650,000 monthly active users.