Belfast-based AI startup Ocula has successfully raised £3.25 million in Series A funding. The funding round was led by Praetura Ventures, with additional investments from Castelnau Group and Lloyds Banking Group.
Founded in 2021, Ocula specialises in leveraging AI to optimise e-commerce performance. Their primary product, Ocula Boost, uses AI to enhance product pages, improve SEO, and generate insights that help retailers compete more effectively. The startup has already secured over 25 major retail clients, including notable names like Boots, AO, and Hornby, and aims to triple its client base within the next two years.
Thomas McKenna, co-founder and CEO of Ocula, stated, “Users consistently tell us that our generative AI is leveling the playing field with their most advanced competitors. We’ve achieved this by bringing together some of the brightest science, engineering, and product talent in the UK and beyond.”
Peter Carway, investment director at Praetura Ventures, commented on the investment, “AI’s role within e-commerce has grown exponentially over the past several years. There’s now a wealth of incredibly exciting developments for retailers of all sizes. Having invested in this space before, we were drawn to Ocula’s proposition and suite of highly sophisticated products as well as the strength of Ocula’s co-founders Thomas and Gregory, who we’re looking forward to supporting with more than money.”