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The startup celebrates raising an additional $6M in seed capital
These days, companies across the board are turning to generative AI, rushing to offer that optimized solution for anything and everything. And there’s no lack of funds gushing in – AI is apparently the second top industry to invest in this year after biotech (I have a feeling that won’t change much in 2024). On Monday, it’s Genus AI in the e-commerce space that celebrated its latest capital raise.
If you’re a graphic designer for a fashion brand, read no further to save you the stress. Genus AI is helping retailers “automate creative production […] saving time and budget while boosting your campaign results.”
The company just got extra capital – some $6 million to close its seed round at $11 million total. New investors were Aleph Group, a Miami-based digital ads and marketing technology company, as well as angel investors: Treasure Data CEO Kazuki Ohta, Heep Agency founder Magnus Lundin, Tomas Slimas, co-founder of Shopify-acquired Oberlo, and others.
Previously, Genus AI received investments from German firms Picus Capital and HDI, Transamerica Ventures (bought by Montana Capital Partners), and Maschmeyer Group Ventures in San Francisco, among others.
In a statement Monday, Genus AI said the funding has helped it bring its generative AI tech to brands in the direct-to-consumer (D2C) and e-commerce spaces for growth across social media like Instagram, Facebook, X, Pinterest, and TikTok. Looking forward, Genus AI will boost its GTM infrastructure and add new integrations to its platform.
Genus is working with brands including apparel and gear retailer Parks Project, home décor company Annie Selke, jeweler Awe Inspired, skincare maker Peter Thomas Roth, lease-to-own marketplace FlexShopper, clothing store ASTR The Label, and natural shampoo bar brand NOLÉ.
With Genus, companies can create catalogs by choosing among built-in templates and backgrounds, auto-generate video ads within minutes, engage the targeted audiences, and get data-driven marketing analysis. Separately, Genus said it employs its own “roster of designers and UGC talent” in case brands need human help with creative production.
The website lists “before” and “after” images showcasing bare product images versus the same objects placed in an optimistic background, differently positioned, and framed in a stylish way, with added promo text. Other examples show flat-color background templates and videos generated with different dress colors.
Founded in 2017, Genus recently moved its headquarters from San Francisco to Nashville; the company also operates an AI technology office in Vilnius, Lithuania. Just in 2023, Genus generated more than 10 million product images, according to the company.
“Artificial intelligence is transforming how brands grow and engage with their customers,” said Genus CEO and co-founder Tadas Jucikas, in a release. “This rapidly evolving AI technology should be accessible to all and we are working hard to open it up for brands of any size."
Ironically, Genus AI’s website proclaims to its prospective clients: “Get inspired and unlock your creativity!” To me, it seems the solution would do the opposite – when we let the machine pick for us, we leave that creative thinking of ours rest – and all the graphic designers along with it.
Next, it’s up to human designers to show their worth – and prove, in stats – that their artism is the more effective ad content. If it is.
Image source: Genus AI
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