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December 18, 2023
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Top 9 VC firms on AI’s transformative impact in E-commerce 2024.

  • The most active VC firms in e-commerce have revealed their investment criteria and predictions for 2024.
  • The intersection of e-commerce and AI is a significant area of interest.
  • Berlin-based partner at Antler, Alan Poensgen, believes there are opportunities for DTC brands and companies innovating with tech to make e-commerce operations more efficient.
  • George Damouny from Plug and Play Ventures expects AI to attract investors who weren’t previously focused on commerce while James Loftus from PayPal Ventures shares the focus on AI, along with financial infrastructure and bank enablement platforms.
  • Others, such as Rebecca Liu-Doyle from Insight Partners, find interest in businesses with unique SaaS-like advantages and foresee generative AI’s impact on personalized shopping experiences and task automation in e-commerce.

Many VC firms have been keen on investing in e-commerce companies who intersect with AI in 2023. Despite what Alan Poensgen from Antler described as a “major COVID hangover” impacting e-commerce funding opportunities, he maintained that opportunities remain for Direct-to-Consumer (DTC) brands and those building technologies to improve e-commerce operations.

Like Poensgen, George Damouny of Plug and Play Ventures observed a significant drop in retail and e-commerce deals in 2023. Nevertheless, he emphasized the firm’s interest in AI’s potential to innovate e-commerce and attract new investors. He anticipated 2024 as a key year for deciding which AI startups will last.

James Loftus, managing partner at PayPal Ventures, acknowledged a decrease in e-commerce investments due to 2023’s challenging business environment. However, he expressed confidence in companies that support small and midsize businesses. PayPal Ventures’ 2024 investments will likely focus on AI, financial infrastructure, and banking enablement platforms.

Meanwhile, Rebecca Liu-Doyle, managing director at Insight Partners, disclosed the firm’s preference for businesses with “inherent SaaS-like advantages enabled by some combination of software-led moat and repeat-driven customer behavior.” She foresees generative AI being utilized in personalized shopping experiences and customer service automation in 2024.

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