Dojo AI in €5.1 million raise for US expansion
Portuguese startup, Dojo AI has raised US$6 million (€5.1 million) in a seed investment round led by VC Armilar to take its AI Agent to market.
The cash will also help the company, which aims to become a Sensei of the digital marketing world, to expand in the US market.
The company’s founder, Duarte Garrido, says the capital injection will help it to become “the platform of choice for the modern marketing team. While most departments revolve around a single operating system, marketers waste time jumping from platform to platform, without integration, intelligence, or execution capabilities. Dojo is here to change that.”
“Regarding immediate plans, the seed round will allow us greater penetration in the American market, where we already have the largest share of our revenue, but also increase the scope and capacity of the product to serve large companies,” says the co-founder and co-CEO of Dojo AI, who founded the company with António Alegria.
Led by Armilar, with participation from Heartfelt VC, which had already entered the pre-seed round, this round raises Dojo’s total capital to US$7 million (€5.9 million) and increases its valuation to US$30 million (€25.5 million).
Last June, during the pre-seed round, the company aimed to develop the Alpha product (AI Marketing Agent System) and bring it to market. “The last few months have been focused on hiring and building the growth engine and product team. We beat all our growth projections and maintained a consistent 20% month-on-month,” says Duarte Garrido.
Today, the startup already works with 100 brands, mainly in the American and UK markets, such as CoinDesk, PensionBee, MorningStar, Employment Hero, Amplemarket, Broadvoice, CovertSwarm, FreshTri, and Refine Labs.
According to Dojo AI, clients have seen gains from a 40% reduction in customer acquisition costs, campaign launches that are ten times faster, and a 200% increase in campaign performance, with an increase in staff.
Source: Eco Online; Image: Dojo AI
