On Tuesday, Maju Kuruvilla, the former CEO of Bolt, unveiled his new venture, Spangle AI, an innovative e-commerce startup designed to revolutionise the online shopping experience, a seed investment from Seattle VC firm Madrona along with Silicon Valley firm Streamlined Ventures.
This move marks Kuruvilla’s latest venture in digital retail, following his tenure at Bolt and nearly eight years at Amazon.
A former Amazon VP, Kuruvilla led Bolt, a controversial e-commerce “one-click checkout” business established by Ryan Breslow, who resigned in 2022. After Breslow resigned, CTO Kuruvilla managed the company until April 2018, when the board reportedly fired him.
Now, he leads Spangle, which uses AI to help merchants personalise online purchasing by bridging hyper-targeted marketing and more broad shopping experiences on websites and apps.
Spangle AI platform streamlines operations for retailers, says CEO
Maju Kuruvilla, SpangleAI’s CEO, states, “Digital commerce needs a fresh approach. That’s why we developed an AI platform tailored to the unique needs of brands and retailers — unlocking native AI shopping experiences that adapt to consumer engagement in real-time, deliver one-to-one interactions, and drive better results while streamlining operational inefficiencies,”
Spangle AI’s proprietary ProductGPT model analyses real-time consumer behaviour, merchant data, and product interactions to deliver personalised and adaptive shopping journeys.
Controlled A/B tests have shown impressive results, including a 51 per cent lift in conversion rates, a 46 per cent increase in engagement, and a 2x improvement in Return on Ad Spend (ROAS).
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Seamless integration drives scalable retail with Spangle AI
Spangle AI is designed to seamlessly integrate with retailers’ existing systems, making it scalable and easy to implement. The platform offers several benefits, including personalised user experiences, increased conversion rates, enhanced customer retention, and improved operational efficiency.
“Spangle addresses e-commerce right from the first touch — at check-in,” Kuruvilla wrote on LinkedIn .
“Personalization across retail has failed to live up to its promise due to its reliance on sparse, expensive, and backward-looking customer data. No single merchant has enough customer data to make accurate predictions, and customers want more than repeat purchases,” Kuruvilla noted, highlighting the need for real-time, dynamic experiences inspired by social media platforms.
Scott Jacobsen, managing director at Madrona, said Spangle helps brands “turn advertising traffic into a high-performing channel that actually delights the customer.”
“With Spangle, brands can use the power of AI to take what they know of the user’s interests and turn around a customer experience that’s relevant and delightful,” he wrote on LinkedIn.
Spangle AI has secured $6 million in seed funding from reputable investors such as Madrona Ventures and Streamlined Ventures, positioning the startup for further growth and technological advancements. With its innovative approach and strong backing, Spangle AI is poised to make a meaningful impact in the e-commerce sector.