Line Ventures backed a $36.2m round for AI-equipped e-commerce platform TimeBank that will help the startup acquire new users and partners.
Japan-based e-commerce marketplace operator TimeBank has raised ¥3.95bn ($36.2m) from investors including Line Ventures, messaging platform developer Line’s corporate venturing unit.
Venture capital firms Jafco and Incubate Fund also participated in the round, which represents the company’s first external funding.
Founded in 2018, TimeBank has developed a mobile app that makes use of artificial intelligence and machine learning algorithms to detect business downtime and analyse consumer behaviour, enabling goods and services to be sold at lower prices.
Business owners can…
