Spangle, an AI-powered e-commerce startup founded by former Bolt CEO Maju Kuruvilla, has raised $15 million in a Series A round, valuing the company at $100 million post-money. The all-equity round was led by NewRoad Capital Partners, with participation from Madrona, DNX Ventures, Streamlined Ventures, and strategic angel investors, bringing total funding to $21 million.
Founded in 2024 in Seattle by Kuruvilla and CTO Fei Wang, Spangle develops AI-native software that dynamically generates personalised shopping experiences in real time. Since emerging from stealth, the company has signed nine enterprise customers, including Revolve, Alexander Wang, and Steve Madden, and reported rapid growth in traffic and annualised revenue. Spangle said the new capital will be used to expand research and development, grow its engineering team, and scale go-to-market efforts as retailers adapt to AI-driven product discovery.
Featured image: Credit: Spangle
