Rubikloud Technologies, a retail AI solutions provider, has raised $37 million in Series B financing led by Intel Capital. The company will use the funding to expand its offices into Europe and Asia and meet growing international demands for retail AI.
The cloud-native platform and its two flagship applications, Promotion Manager and Lifecycle Manager, are designed to leverage AI to help retailers automate and improve mass promotional planning and loyalty driven marketing, while also enabling them to build their own custom apps.
The round brings Rubikloud’s total investment to $45 million and includes contributions from existing investors Horizons Ventures and Access Industries and new investors iNovia Capital and OTEAF.
Director Elana Lian led the investment for Intel Capital, the venture capital arm of Intel Corporation, and will join the Rubikloud board.
The investment gives Intel a larger presence in retail, enabling it to combine its IoT platforms and in-store devices with Rubikloud’s intelligent decision automation. The company aims to transform three areas of retail with this approach: the supply chain, the corporate front office and the front of the store, according to Stacey Shulman, Chief Innovation Officer in the Retail Solutions Division at Intel Corporation.