Funds for Product Testing Platform Cambri

Helsinki-based AI-based consumer insights and innovation platform Cambri has secured EUR 8 million in funding, for use in scaling its operations. The firm focuses on guiding innovation and improving new products before launch.

Cambri's proprietary AI engine predicts the likelihood of products' success and provides actionable insights to help improve them before launch. The firm, which was founded in 2018 by Heli Holttinen, Outi Somervuori and Dani Kamras, says its AI models are 2-3 times more accurate than traditional methods and regularly give clients over 80% prediction accuracy for product launch success.

The round was led by European VC firm Octopus Ventures and Sir Martin Sorrell's S4S Ventures, alongside existing investors The 98, OpenOcean and Spintop Ventures. The 98 is co-led by former Nielsen US President Lynda Clarizio, who joined the Board of Cambri in 2021.

Cambri CEO Ben Harknett says the company has experienced rapid international growth and attracted many of the world's leading consumer brands as customers. He adds: 'The new funding from these two experienced investors underscores the dramatic value our proprietary AI models drive for our customers, and will significantly support our expansion'.

Sorrell states: 'When long-established consumer brands with impressive innovation track records such as Coca-Cola and Carlsberg are using Cambri's AI-powered platform to drive their product innovation, this technology is capable of huge impact'.

Web site: www.cambri.io .

Pictured L to R: Cambri co-founders Dani Kamras and Dr. Heli Holttinen; and Cambri CEO Ben Harknett

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.