Funding Tag

NEW FUNDING: Lily AI, a product attributes platform that ensures fashion companies and consumers speak the same language, has closed a $25 million Series B round. The round saw the participation of new and returning investors including Canaan Partners, Conductive Ventures, Sorenson Ventures and New Enterprise Associates. The new financial backing is meant to support the California-based start-up’s plans to grow its business further into mid-market retail e-commerce brands; branch out into home and beauty, and expand geographically, with an eye toward the U.K. and Europe. It also plans to offer further applications within the retail stack. Lily AI was created in 2015 by entrepreneurs Sowmiya Chocka Narayanan and Purva Gupta as an AI-empowered app with emotional intelligence for fashion shoppers, with initial...