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Rubikloud makes an investment of $ 37 million to bring information to the retail industry

The retail industry is one that is poised to be disrupted by technology. Under intense pressure from giants like Amazon and Walmart, retailers are often stuck with the help of existing systems and are ill equipped to compete with the latest tools. Rubikloud announced today a $ 37 million investment to help retailers tackle the problem of modernization with cloud tools built with artificial intelligence foundations.

The tour was led by Intel Capital with the participation of new investors Inovia Capital and OTEAF as well as previous investors Horizons Ventures and Access Industries. According to the company, the investment of today brings the total to 47 million dollars.

Intel, in particular, is trying to get into the retail business where it hopes to promote its Internet of Things strategy. They believe that by combining their IoT knowledge with the intelligent automation and data processing of Rubikloud, they will generate a powerful partnership. For starters, they hope to tackle three retail sectors with this approach, including supply chain, front office and even inside stores.

Rubikloud offers a suite of SaaS products including a promotional tool and a customer lifecycle manager to help retailers deliver more personalized promotions and track their customers throughout the retail life cycle. They also offer a number of other tools, including RubiCore, which is designed to help companies integrate and validate data from their existing systems and transfer their data into Rubikloud's proprietary data model. Finally, they offer RubiOne, a set of machine learning tools and libraries designed to help retailers create their own machine learning applications in addition to the Rubikloud dataset.

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The idea is to use the applications provided by the company to help retailers improve their promotions and better understand their customers, while giving them the ability to create their own custom apps.

This seems like a solid approach, but the company is far from the only one in this space as it competes with giants like Adobe and a host of other startups. Regardless, investors obviously liked what they saw and have injected a lot of money to help in this regard.

The company plans to use the money from this tour for global expansion with a focus on opening offices in Europe and Asia.

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