AI-Powered Auction App Tilt Raises $26M: A Glimpse Into the Future of E-Commerce

Tilt, the live auction app based in London, just snagged a hefty $26 million in funding. Co-founded by ex-Revolut team members Abhi Thanendran and Neil Shah, Tilt's AI-powered platform is shaking up the online sales scene.

The Auction Revolution

Imagine buying a rare trading card or the latest fashion item in a live, interactive auction. That's Tilt's game plan. The app lets users dive into live auctions much like scrolling through TikTok, turning shopping into an engaging experience. Sellers showcase products live, while buyers can place bids in real-time, making it a QVC for the TikTok generation.

But what makes Tilt stand out is its AI magic. The Snap tool automates listing creation by recognizing items held up to the camera. In seconds, product descriptions and pricing suggestions appear. This could be a breakthrough for sellers overwhelmed by the online selling grind.

AI: The Secret Sauce

"Live commerce is tough on sellers," Thanendran told me. "Our AI tech takes a lot of that hassle away." There's even a copilot, a kind of live coach, guiding sellers to enhance their auctions on the fly. Meanwhile, an agentic search tool helps buyers navigate the bustling auction landscape.

One can't help but wonder: is AI the future of e-commerce? Tilt certainly thinks so. They're using AI-driven clip-farming on platforms like Instagram and TikTok to help sellers boost their presence. The ambition is simple but bold, helping sellers go from zero to e-commerce stars.

Who's Backing Tilt?

Here's who wrote the check. TQ Ventures led the round, with backing from Vinted Ventures and existing investors like Balderton Capital, Earlybird, and Seedcamp. The round valued the company at an impressive figure, although exact numbers remain under wraps.

With a total of $50 million raised to date, Tilt plans to pump this funding into more AI innovations and expand into the US and across Europe. It's a clear signal that they aim to scale up and take on heavyweights like TikTok Shop and eBay Live.

Looking Ahead

As Tilt gears up for its next moves, the question remains: can they truly disrupt the market dominated by giants? If they play their AI cards right, their impact could be substantial.