Singapore-based AI marketer, Needle, has announced the completion of an oversubscribed pre-seed funding round, raising $1.2 million.
Led by Iterative, the round saw participation from Ethos Fund, Goldbell Financial Services, and prominent angel investors like J.J. Chai, Founder of Rainforest.
The funds are earmarked for team expansion, including the recruitment of data scientists, AI trainers, and engineers.
Needle, founded by experienced e-commerce veterans, offers a first-of-its-kind, end-to-end AI marketing solution.
“Starting a business has never been easier, yet growing one has never been harder,” said Kiyan Foroughi, CEO and Co-Founder of Needle. The platform aims to help burgeoning e-commerce brands cut through the data noise and make targeted decisions.
Emerging e-commerce brands, often restricted in resources, spend up to $3,000 monthly on generic marketing campaigns with little return on investment.
Needle steps in to streamline this process, generating ideas, setting business and marketing priorities, and offering tailored tactical recommendations using generative AI.
The platform connects with data from multiple sources, uses AI to set achievable goals, devise specific tactics, and creates ready-to-review campaigns and customer emails.
Brian Ma, General Partner of Iterative, voiced his support for Needle, acknowledging the struggles e-commerce companies face in marketing effectively amidst a sea of platforms, channels, and data.
He expressed excitement about backing Needle’s mission to simplify this process and help brands spend more efficiently and reach their customers effectively.
Early adopters of at least three Needle tactics have seen their baseline revenue grow by 1.5x over five months. These customers, usually small marketing teams, reported that they can now handle the workload of a larger team.
“Needle has helped us focus on what matters most in our marketing efforts,” said Jennifer Gregory, Managing Director of Indosole in Singapore.
Needle is currently accepting applications from D2C brands to test its beta version. Aspiring professionals keen on joining the Needle team can explore opportunities via the company’s website.
BusinessNewsAsia