Albert Senator, the founder and former CEO of the Net, AI shopping app, which promised the “Universal” Check -out experience, was accused of cheating investors on Wednesday, According to For a press release from the Justice Department of Justice.
Established in 2018, Net recently collected more than 50 million millions from investors like Koto and Forton Ventures Pick In 2021, Renegade Partners headed by a million 38 million series A.
Net said its app users can buy with one click from any e -commerce site, thanks to AI. However, in fact, the Net relied heavily on hundreds of human contractors in a Philippine call center to manually complete these purchases.
Senator raised millions of venture funds, claiming that the net was able to make “online transactions” online, except where the AI failed to complete the transaction. But Net claims that the Net, despite receiving some AI technology and hiring data scientists, was effectively 0 % of its app’s original automation rate.
The heavy use of the human contractors of the net was the subject An inquiry Through information in 2022.
Singer did not respond to a comment. She is currently Charged As a Managing Partner in New York’s VC Butterkor partners, who did not respond to a comment.
Doj’s Charge They say the net was out of money and was forced to sell their assets in January 2023, and its investors were left “nearly”. Albert Senator’s LinkedIn profile indicates that he was no longer CEO until 2023.
The net is not the only start that has allegedly exaggerated its AI capabilities. For example, in the Philippines, an “AI” drive through the Software Startup was also largely operated by humans. Reported In 2023.
Recently, business internal Reported That an AI Legal Tech, an unicorn, Everup, used humans to do most of their work.