Bulgaria-active Glami sets up 5 mln euro investment fund – SeeNews
Tomas Hodbod
SOFIA (Bulgaria), November 23 (SeeNews) – Bulgaria-active online fashion search engine Glami said on Wednesday that it has established a 5 million euro ($5.17 million) fund, Glami Venture, to invest in companies using artificial intelligence (AI).
The fund will have available financing of 5 million euro in the first year to support projects for identifying client-oriented products, AI technologies and software, Glami said in an emailed statement.
Glami is capable of generating profit which could be used for long-term investments and projects. Apart from client-oriented projects, the company is interested in technologies to improve the development of the whole ecosystem. For instance, the firm is currently looking for opportunities in the area of the circular economy, business-to-business e-commerce or AI SaaS companies, Hodbod noted in the statement.
Overall, Glami seeks to transform from a search engine to a platform based on AI and innovative machine learning. The…
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source: https://news.oneseocompany.com/2022/11/23/bulgaria-active-glami-sets-up-5-mln-euro-investment-fund-seenews_2022112336325.html
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