DeepScout funding news – Prague-based DeepScout Raises €600k in Funding

The funding round was led by startup studio Miton, which invested €200K upfront, with the option for an additional €400K.

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Jan Mittner, who has previously founded and sold companies like Jízdomat (acquired by BlaBlaCar) and Proudly (acquired by Welcome to the Jungle), believes DeepScout will transform online retail. He says, "We can track and analyze products from many companies and give our clients specific advice on pricing and product choices."

A key feature of DeepScout is its ability to match products from different sources without needing a standard code like an EAN. The platform uses AI and machine learning to clean, extract, and match data, even using images to identify similar products at scale.

Mittner said, “The tool uses state-of-the-art AI/ML technology to the maximum extent possible. This allows it to extract data in a structured form, check its quality, pair products, learn from feedback, and so on fully automatedly. For example, when matching products, it uses all available data, including images from galleries, and decides whether they are the same product or not. Similar to a human. It just does it on a scale of millions of products,".

Miton, known for supporting successful startups like Glami and Donio, is actively helping DeepScout grow. Tomáš Hodboď, a partner at Miton and the former founder of Glami, is leading the product development.

Tomáš Hodboď said, “Unique and clean datasets will be a key element in the new era of the Internet, which will be shaped by language models. We now see great opportunities in data specialisation, quality and accuracy. When Jan Mittner came to us a year ago, we started working on validating the solution. Building ‘SimilarWeb for e-commerce’ is the first step, But we don’t want to stop there. The ability to offer actionable insights over big data is a topic that is also relevant in other areas, such as real estate pricing, leads for sales, and data for investors. Even these can be handled in a fully automated way today.”

Although it's still early, DeepScout already has paying customers in the Czech Republic and has started working with international clients. The startup plans to improve its product locally before expanding further.

Mittner said, “Over the next few months, we will fine-tune the product based on feedback from the Czech market and then head abroad. We have already gone there. We are already providing data from foreign markets for several clients, and it’s just as easy as it is in Czechia. So our ambitions are decidedly global,”.

About DeepScout

DeepScout is a tech-driven startup changing the way businesses gather competitive information. They focus on speed, reliability, and cost-efficiency. Using advanced AI, we provide businesses with useful data to improve pricing and product choices at a much lower cost than traditional methods.