Cashew Research Revolutionizes the $90 Billion Market Research Industry with AI
The market research industry, valued at approximately $90 billion, has long been a cornerstone for brands aiming to understand and connect with their target audiences. However, traditional methods often come with high costs and extended timelines, making them less accessible, especially for smaller businesses. Enter Cashew Research, a Calgary-based startup leveraging artificial intelligence to transform this landscape by offering faster, more affordable, and efficient market research solutions.
Innovative Approach to Market Research
Cashew Research utilizes AI to design tailored market research plans and surveys based on specific client needs. Whether a brand seeks to assess its recognition within a particular demographic or gauge the effectiveness of a new marketing slogan, Cashew’s platform crafts precise surveys to gather relevant data. These surveys are then distributed to real participants, ensuring authentic responses. Once the data is collected, Cashew’s AI processes and summarizes the findings, delivering actionable insights to clients in a fraction of the time required by traditional methods.
This innovative approach positions Cashew as a bridge between expensive, time-consuming traditional market research firms and the limitations of large language models (LLMs) that often rely on existing, recycled data. As Addy Graves, co-founder and CEO of Cashew, explains, 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. Now there’s Cashew that exists in the middle. It creates custom, fresh data to answer your question instead of you just using an LLM that’s surfacing the same recycled pool of data that everybody’s finding on the internet.
Origins and Evolution
With over a decade of experience in market research, Graves frequently encountered clients demanding comprehensive research projects with real-world data within tight deadlines. Traditional methodologies couldn’t meet these demands due to technological constraints. The advent of AI provided the tools necessary to automate and expedite these processes. Graves recalls, That was definitely the aha moment. And it wasn’t until the onset of AI that we were actually able to automate these processes that we use as researchers, best practices, these data science-backed methodologies, as well as the formatting of reports that we know that everybody wants.
In 2023, Graves co-founded Cashew Research with Rose Wong, who serves as the Chief Operating Officer. Initially focusing on consumer packaged goods, particularly in the food and beverage sector, the company aimed to address the specific needs of this industry. Their efforts quickly gained recognition, leading to Cashew being selected as one of the 200 startups for TechCrunch’s Startup Battlefield competition in 2025. The company further distinguished itself by winning the Enterprise Stage pitch competition at TechCrunch Disrupt.
Balancing Automation with Human Insight
In an era where AI-driven marketing tools are becoming increasingly prevalent, Cashew Research differentiates itself by maintaining a balance between automation and human input. Each client project involves collecting fresh data from real participants, ensuring the insights are both current and relevant. This approach requires a deep understanding of market research methodologies, which Cashew’s team brings to the table.
Moreover, Cashew’s commitment to data privacy and ethical research practices is evident in their handling of client data. The company anonymizes all collected data and compiles it into a proprietary database. This resource not only enhances the quality of future research projects but also provides clients with a competitive edge by offering insights derived from a unique and extensive dataset.
Financial Milestones and Future Aspirations
Cashew Research has demonstrated significant financial growth, securing C$1.5 million in pre-seed funding. Looking ahead, the company plans to launch a seed funding round in early 2026, aiming to raise up to $5 million. This capital will be instrumental in further developing their technology and expanding their market reach.
The company’s strategic goals for the upcoming year include increasing its presence in the U.S. market and strengthening its business-to-business (B2B) offerings. Graves emphasizes the potential impact of their services, stating, The people who are already buying research, that’s already a massive category, but that doesn’t even include all the people that could be buying research but just can’t afford it or can’t do it right now because they don’t have the timelines. We’re actually creating this new category for marketers to gain access to answers to these questions that they’ve had.
The Broader Context of AI in Market Research
Cashew Research’s emergence is part of a larger trend where AI is reshaping the market research industry. Other companies are also integrating AI to enhance their services. For instance, in May 2025, AI startup Cohere acquired Ottogrid, a platform specializing in automating market research processes. Similarly, in December 2022, Zappi raised $170 million to expand its AI-based market research platform, highlighting the growing investor interest in this sector.
These developments underscore a significant shift towards more efficient, AI-driven market research solutions. Cashew Research’s unique approach, combining AI automation with human insight, positions it as a formidable player in this evolving landscape.
Conclusion
Cashew Research is at the forefront of revolutionizing the market research industry by harnessing the power of AI to deliver faster, cost-effective, and insightful data to brands. By bridging the gap between traditional, expensive research methods and the limitations of existing AI tools, Cashew offers a compelling solution for businesses seeking to understand and engage their target audiences more effectively. As the company continues to grow and expand its offerings, it stands as a testament to the transformative potential of AI in market research.
