Daydream, a New York-based new e-commerce search engine, has raised a massive $50 million in seed funding.
The company plans to launch the platform in beta to U.S. consumers this fall, focusing initially on the fashion vertical.
Investors
The round was led by Forerunner Ventures and Index Ventures, with participation from GV (Google Ventures) and True Ventures, among others.
Forerunner Ventures is a venture capital firm based in San Francisco, that specializes in investing in companies within the consumer sector, supporting ambitious teams reshaping various categories.
Index Ventures, founded in 1996 with offices in London, San Francisco, and Geneva, partners with entrepreneurs worldwide to develop bold ideas into global businesses, from Seed to IPO.
Daydream Use of Funds
The company intends to use the funds to expand its engineering team rapidly. Currently employing 23 people, the company plans to increase its workforce to 35 by the year's end.
About Daydream
Founded by Julie Bornstein, Daydream focuses on providing personalized shopping results by using generative AI, machine learning, and computer vision. It has already onboarded more than 2,000 brands, including Net-A-Porter, Altuzarra, Jimmy Choo, Doen, Alo Yoga, and La DoubleJ.
Funding Details
Company: Daydream
Raised: $50.0M
Round: Seed Round
Funding Month: June 2024
Lead Investors: Forerunner Ventures, Index Ventures
Additional Investors: GV, True Ventures
Company Website: https://daydream.ing/
Software Category: Product Search and Discovery
Source: https://techcrunch.com/2024/06/20/former-stitch-fix-coo-julie-bornstein-secures-50m-to-build-a-new-age-e-commerce-search-engine/