Miros funding news – London-based Miros Secures €6 Million in Pre-Series A Round Funding

Funding Utilisation

The company plans to use the funds to boost research and development, improve its technology and expand its market presence. So far it has raised a total of €8 million.

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It aims to improve online shopping by helping customers find the right products more easily. Its AI technology analyzes shopping patterns to help users discover items they want, even if they can't describe them with words.

Heikki Haldre, Co-Founder and CEO at Miros, commented, “The world doesn't lack products. Finding them is the problem. We've all wasted hours online, endlessly scrolling and searching for the perfect item. At Miros, we’re building the new online shopping experience where you can find a product in less than 60 seconds. Even when the products are so visually complex that the words fail us, the shop understands us nevertheless. The experience feels magical. Why would I shop anywhere else and spend hours searching for products?”

Aziza Zakhidova, Associate Director at EBRD Venture Capital, added: ”We are excited to back Heikki and team as they transform the search experience in e-commerce. Miros visual search is impressive: buyers can enjoy a more intuitive shopping experience and find what they are looking for, while retailers can see improvements in conversions . By augmenting product discovery with visual search, Miros has the potential to address a fundamental pain point in e-commerce search.”

Toomas Hendrik Ilves, former President of Estonia and angel investor, commented: “As a strong supporter of innovation in technology, especially using artificial intelligence, I was particularly impressed by Miros' ability to address a fundamental challenge in e-commerce – the frustration of not finding what I am looking for on existing internet search engines. It took just 17 minutes to decide I wanted to invest when I saw firsthand how Miros’ powerful AI-powered visual search technology can completely change and revolutionize online shopping globally. I am always thrilled to see Estonian entrepreneurs at the forefront of innovation."

About Miros

Miros offers an AI-driven search and discovery solution for e-commerce, especially in visually-based industries like fashion and furniture. Its Discovery Bar allows users to find products using descriptive terms instead of specific keywords or tags.