Calgary-based Cashew Research aims to transform the $90 billion market research industry by leveraging AI to deliver faster, cost-effective insights for brands.
Cashew Research, founded in 2023 by Addy Graves and Rose Wong, has positioned itself as a disruptive force in the market research industry by utilizing artificial intelligence to streamline the process of developing market research plans and surveys. With a focus on consumer packaged goods, particularly in the food and beverage sector, the company offers brands real-time insights into brand recognition and the effectiveness of marketing campaigns.
The company was recently recognized as one of 200 startups selected for TechCrunch’s Startup Battlefield competition, where it won the Enterprise Stage pitch competition. Graves, who has over a decade of experience in market research, noted that clients often desire comprehensive research projects completed within tight timelines. “That was definitely the aha moment,” she stated, reflecting on the challenges in the industry prior to the advent of AI.
Cashew’s model diverges from traditional market research firms by offering a more affordable solution without sacrificing quality. “You can use an LLM to try to do deep research and get answers to your questions, or you could use a firm that’s going to be really expensive,” Graves explained. “Now there’s Cashew that exists in the middle.” By combining human data collection with AI-driven analysis, Cashew delivers tailored insights rather than relying on widely available information.
The incorporation of automation not only increases efficiency but also reduces costs, enabling smaller brands to access market research that was previously out of their reach. Cashew collects real-world data from clients, anonymizes it, and builds a proprietary database that enhances future research projects. This approach provides them with a competitive edge in an increasingly crowded marketplace.
Cashew has successfully secured C$1.5 million in pre-seed funding and is preparing for a seed round in early 2026, aiming to raise up to $5 million to further develop its technology. A pivotal focus for the company moving forward includes expanding its footprint in the U.S. market and growing its B2B offerings. “We’re actually creating this new category for marketers to gain access to answers to these questions that they’ve had,” Graves stated, emphasizing the potential to serve a wider range of clients who may currently find market research prohibitively expensive.
As the demand for market insights continues to grow, the significance of Cashew’s approach could resonate across various sectors. By addressing the speed and cost challenges inherent in traditional research methodologies, the company aims to empower brands of all sizes with actionable data. The trajectory of Cashew Research will be closely watched as it seeks to redefine the landscape of market research in an era increasingly dominated by artificial intelligence.
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