The new investment will enable Cosmose to embed Web3 principles in its processes and further expand the AI-driven retail ecosystem. The company expects its new Web3 ecosystem to increase sales for retailers.

“We are grateful for the ongoing support from NEAR Foundation and are excited about what’s to come. NEAR is the most secure, scalable, and sustainable blockchain protocol”, CEO and founder of Cosmose AI Miron Mironiuk said. “Having built on NEAR in 2022 and while working with NEAR Foundation we discovered that our visions for the Web3-driven future are aligned. Together we’ll build a future where one billion users benefit from the ecosystem they’re part of, with complete control of their data and superior AI-driven personalisation.”

Founded in 2014, Cosmose AI is a platform that predicts and influences how people shop offline. It currently services notable brands, including LVMH, Richemont, L’Oréal and Estée Lauder and offers AI-driven recommendations to its users, encouraging them to shop in nearby stores to “save time, money and the environment”.

NEAR Foundation is a Swiss non-profit organisation behind the Near Protocol, a high-performance, carbon-neutral blockchain.

Its founder and CEO, George Raymond Zage III, commented: “This strategic investment from NEAR is a testament to the strength of Cosmose AI’s technology and the potential for its artificial intelligence solutions to revolutionise the convergence of e-commerce and the retail industry.

“We look forward to seeing the continued growth and success of Cosmose”, Raymond added.