Eurora Snags $40M for eCommerce Compliance
Summary
Estonian artificial intelligence (AI) and machine learning cross-border eCommerce compliance platform Eurora Solutions nailed down $40 million in Series A funding in an oversubscribed round that’s considered one of the largest financing rounds of its kind among Estonian startups, according to a Wednesday (April 27) press release. “The number of different declarations, codes, reports, records and tax calculations required in the international shipping business is ever increasing,” Marko Lastik, founder and CEO of Eurora Solutions, said in the release. “Without the correct data sets and automated solutions for tax calculations and electronic declarations, cross-border trade has slowed down, resulting in severe delays, fines, increasing costs, loss of customers etc. By using Eurora’s platform, merchants can make deliveries faster and at lower costs, which results in increased customer satisfaction and trust,” he said. In other AI-related news, Instacart announced earlier this month that it is launching a new POS system called Caper Counter at Boston’s Fenway Park, which is created by Caper AI, a software company that Instacart acquired in the fall that makes checkout systems and other AI retail technology.