News Summary

Merchkit, a startup co-founded by former leaders from EventMobi and Voiceflow, has successfully raised $2 million CAD in pre-seed funding to enhance retail merchandising through AI. Based in Vancouver and Toronto, Merchkit aims to streamline product catalogue management for retailers using an AI-powered software platform. This funding round, led by Afore Capital and Antler Canada, marks Merchkit’s first financing endeavor. CEO Bijan Vaez, who has a history of tackling inefficiencies in product management, founded Merchkit in 2022 after his experience at Browze. The platform seeks to automate manual retail processes, offering retailers tools to reduce product launch timelines and operational costs. With a focus on AI-driven automation, Merchkit stands out against traditional static data platforms, aiming to transform how retailers manage product information. The team plans to use the new capital to advance product development and expand their team, supporting their current enterprise contracts and presence in sectors like furniture and apparel retail.