Ukrainian SMRK VC Fund has invested $500,000 in a startup called Kitcast Inc, which offers artificial intelligence software for digital signage.
In 2016, a beta version of Kitcast was released. Currently, the software is publicly available. It is being used by companies in 60 countries (90% of them are based in the USA). Their activity covers various business areas.
СЕО of Kitcast, Egor Belenkov, said that their program is a self-learning one. Basing on triggers and key aspects, it defines what to display to the user.
It automatically chooses content on the basis of analytics and connection to self-service terminals and video cameras.
Meanwhile, the software is compatible with the Apple TV system, but the company is also planning to make it compatible with Android and SmartTV.
Cofounder of SMRK, Andrey Dovzhenko, provided the following commentaries on the commercial solution: “Very soon, outer screens of shopping and business centers, offices, cafes, etc., will learn to define which content, when and whom should be shown. With intelligent algorithms, they will be able to replace managers, consultants, and administrators”.
According to him, digital signage ensures 25% of boost per year.
We would like to remind that SMRK VC Fund was founded by Aleksandr Kosovanov, CEO of MacPaw, and entrepreneur Andrey Dovzhenko in 2013 with a capital of $10 million. It focuses on seed and pre-seed rounds.