Sri Capital-backed start-up, Fakespot, has raised a $4 million in Series A funding. The fresh round had participation from Bullpen Capital along with Graph Ventures, Ty Shay, 500 Startups, Faith Capital Holdings, and founders Saoud Khalifah, Rob Gross.
The startup aims to increase its product offerings to meet its increasing demand with the help of the funds raised.
“As more and more of our daily actions are done online, the importance of trust has grown exponentially and Fakespot intends to be the leader in building technology and products that tackle fake reviews, fake sellers and more,” stated Saoud Khalifah, co-founder and CEO of Fakespot.
Fakespot aims to bring transparency to the internet by eliminating misinformation and fraud, starting with eCommerce. It claims to protect consumers while saving them both time and money by using AI to detect fraudulent product reviews and third-party sellers in real-time. Its technology analyzes consumer reviews to identify suspicious activity and then recommend better alternatives to consumers.
-AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.