Startup Raises $16 Million As Offshoot Prepares For ICO


[PRESSWIRE] London, United Kingdom - 30 October, 2017 -- London-based startup infi has raised $16 million in private investment ahead of the first round of offerings for a new cryptocurrency from its daughter company Yoo-Mi.

Yoo-Mi, which was launched earlier this year, specializes in artificial intelligence in the form of a groundbreaking personal stylist. The stylist appears in the form of an avatar that uses algorithms, artificial intelligence and in-depth psychology to provide users with individualized fashion advice.

Users of the app will be able to make purchases with the Yoo-Mi coins at a range of virtual stores, based on the fashion recommendations of the avatar. The coins are also available for non-users of the app. In this first offering, the coins will be available for a limited period only.

infi’s unique social network platform has more than 4 million users and is growing by up to 100,00 new users every week. The infi platform collates and organizes the user’s entire digital presence and online data into one coherent, chronological location.

infi CEO Yoram Kraus sees the investment as testament to the potential of the Yoo-Mi coins and accompanying avatar.

“We have broken through the boundaries of what digital personal assistants can do,” Kraus says. “This is not like anything that is currently on the market or even in the development pipeline, and it will revolutionize the way we use artificial intelligence in our day-to-day life. The coins are an opportunity for Yoo-Mi investors to be at the forefront of a market that is worth billions of dollars.”

Yoo-Mi’s ICO will take place in the coming weeks, with the avatar launching shortly afterwards.