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E-commerce Search Co Twiggle Raises $15M

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Monday, May 15th, 2017

Twiggle uses data science, artificial intelligence, machine learning and natural language processing to power the next generation of digital commerce.

As reported in Globes:

Israeli digital commerce search engine company Twiggle has closed a $15 million series B financing round led by MizMaa Ventures and Korea Investment Partners. The company has raised $33 million to date including the latest financing round and other investors include Alibaba, Naspers, Yahoo Japan, State of Mind Ventures and Sir Ronald Cohen.Twiggle uses advanced techniques in data science, artificial intelligence, machine learning and natural language processing to power the next generation of digital commerce. Based in Tel Aviv, the company was founded in 2013 by CEO Dr. Amir Konigsberg and CTO Dr. Adi Avidor.

Konigsberg said, “The addition of MizMaa Ventures will strengthen our ties with the Chinese retail market, and Korea Investment Partners has opened up new opportunities in Korea, with leading e-commerce players such as Coupang.”

Twiggle’s search technology aims to better understand what customers want and allows the search engine to mimic how an experienced sales person would behave, increasing conversions and building customer loyalty.

Australia’s e-commerce sales are expected to pass $32 billion in 2017, making it one of the top 10 countries in the world for e-commerce. Twiggle’s plans to bolster its presence in the Asia-Pacific may also be an opportunity for Australian e-commerce platforms.