Funds for Product Data Platform Harmonya

New York and Tel Aviv-based AI-powered product data platform Harmonya has raised $20m in a Series A round of funding, which it will use to further develop its proprietary generative AI technology, enhance its suite of tools, and scale its go-to-market operations.

Harmonya has developed a product data enrichment, categorization, and insights platform for retailers and brands. The platform uses generative AI and large language models to transform static, commoditized product data into a dynamic resource, that enables deeper product understanding. In addition, with the platform, users can identify consumer drivers of market performance, uncover category insights, optimize assortment and merchandising, guide innovation, and automate the process of product coding.

New funding has been led by Bright Pixel Capital, with participation from existing investor Team8, as well as several new investors such as Arc Investors, J Ventures, Silicon Road Ventures, Allen & Company, LiveRamp Ventures, and Susa Ventures. Harmonya CEO and co-founder Cem Kent (pictured) comments: 'This investment will help us further our mission to bridge the gap between legacy product data, which lacks descriptive and diagnostic power and limits what organizations can do, and the modern need for a dynamic product language to power more impactful analytics and decision-making.'

Web site: www.harmonya.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.