Ocula, a Belfast, Northern Ireland-based AI-driven eCommerce solution provider, has closed a £4 million Series A funding round.
Investors
The funding round saw participation from NYO Capital and industry veteran Jose Luis Gomes, marking a significant growth milestone for the company. This follows a previous £3.25 million investment led by Praetura Ventures in August.
NYO Capital is a growth equity firm that focuses on supporting founder-led software companies, particularly in the SaaS (Software as a Service) sector. The firm is known for investing in businesses poised for growth and expansion, especially those leveraging innovative technologies.
Ocula Use of Funds
The funding will fuel Ocula’s expansion in the U.S. market.
About Ocula
Founded in 2021 by Thomas McKenna and Dr. Gregory Fletcher, Ocula provides an AI-driven eCommerce solution for businesses. Its platform utilizes AI to generate search-optimized and brand-aligned product descriptions at scale. Its AI-powered tool, Ocula Boost, is designed to improve online product pages and empower eCommerce teams by providing clarity through analysis and actionable recommendations. Its clients include notable retailers such as AO.com, Blain’s Farm & Fleet, and Coty.
Funding Details
Company: Ocula Technologies Ltd.
Raised: £4.0M
Round: Series A
Funding Date: October 2024
Lead Investor:
Additional Investors: NYO Capital, Jose Luis Gomes
Company Website: https://www.ocula.tech/
Software Category: AI eCommerce Solution
Source: https://www.uktechnews.info/2024/10/18/ocula-technologies-secures-4-million-series-a-investment-from-nyo-capital-and-jose-luis-gomes