Ocula, a Belfast, Northern Ireland-based SaaS company specializing in AI insights for e-commerce businesses, has raised £3.25 million in Series A funding.
Investors
The round was led by Praetura Ventures, with participation from Castelnau Group and Lloyds Banking Group.
Praetura Ventures is a venture capital investment firm based in Manchester, United Kingdom. The firm offers a range of investments across venture capital, commercial finance, and asset finance, which support SMEs across the UK. They invest in seed-stage, early-stage, and later-stage companies.
Ocula Use of Funds
The company will use the funding to scale its sales and technology teams and further develop its product offerings. Ocula also plans to accelerate its expansion in the UK and US markets.
About Ocula
Founded in 2021, Ocula provides artificial intelligence solutions for eCommerce businesses. Its AI-powered tool, Ocula Boost, is designed to improve online product pages. Ocula Boost analyzes and scores product pages, auto-generates titles, descriptions, and alt-tags, and provides insights to improve content and performance. With over 25 major customers, including well-known brands like Boots and AO.com, Ocula plans to triple its client base over the next 24 months.
Funding Details
Company: Ocula Technologies LTD.
Raised: £3.25M
Round: Series A
Funding Month: July 2024
Lead Investors: Praetura Ventures
Additional Investors: Castelnau Group, Lloyds Banking Group
Company Website: https://www.ocula.tech/
Software Category: AI Insight
Source: https://ifamagazine.com/praetura-ventures-leads-3-25m-investment-into-retail-ai-specialist-ocula/