The funding will be used by Native AI to expand its platform, which uses generative artificial intelligence (AI) to use real-time industry, consumer and product data to help create ‘digital twins’ of target customer and consumer bases.

Users of Native AI’s platform can then interact with the digital twins and ask specific questions about products, habits and preferences, with users also able to see the information sources used for specific recommendations and answers.

In addition, Native AI’s platform also allows users to monitor product, industry and competitor performance by extracting and analysing consumer reviews from major retailer websites.

Investment firms 11 Tribes Ventures and Connetic Ventures were also involved in the latest funding round.

Frank Pica, chief executive and co-founder at Native AI, said: “Consumer research is going through a renaissance and generative AI is leading the way.

“Imagine being able to chat with a custom clone of your target audience anytime, anywhere. This makes customer engagement substantially deeper, faster, better and more cost-effective than what’s possible with traditional market research.”

Jerry Frantz, president at JumpStart Ventures, said: “The market potential for generative AI and digital twin technologies is exploding – and Native is at the forefront in bringing these two technologies together to deliver business value.”

Scott Kraege, general partner at Ivy Ventures, said: “Native’s dedication to pushing limits and creating something truly exceptional with proven return on investment attracted us immediately.

“The ability to apply both proprietary and first-party insights breaks the mould of what’s possible in traditional consumer research.”