Cashew Research is going after the $90B market research industry with AI

The market research sector, valued at a staggering $90 billion, plays a crucial role in helping brands understand how to effectively connect with their target audiences. However, gaining these insights has traditionally been both costly and time-consuming. Enter Cashew Research, a Calgary-based startup determined to revolutionize this industry through the power of artificial intelligence. Cashew Research harnesses AI technology to craft tailored market research plans and surveys that cater to specific client needs, whether it’s assessing brand recognition among particular demographics or evaluating the impact of a marketing tagline. Once the surveys are created, Cashew distributes them to real respondents, utilizing AI to analyze and summarize the results. Founded in 2023 by Addy Graves and Rose Wong, Cashew was recognized as one of the top 200 startups at TechCrunch’s Startup Battlefield in 2025, where it clinched the Enterprise Stage pitch competition at TechCrunch Disrupt. Graves, who boasts over a decade of experience in market research, shared insights on the existing market landscape, stating, “You can either rely on a large language model for research or opt for an expensive firm. Cashew strikes a balance, delivering fresh, customized data that addresses specific questions instead of recycling existing information.” The idea for Cashew emerged from a recurring challenge Graves faced: clients often requested comprehensive research projects with real human data within tight deadlines. For years, the technology necessary to expedite this process was unavailable. “That was definitely the aha moment,” Graves reflected. “It wasn’t until AI came into play that we could automate our research methodologies and streamline report formatting to meet client expectations efficiently.” This automation not only enhances speed but also reduces costs, making market research accessible to small and medium-sized businesses that might otherwise be priced out of traditional firms. Cashew’s initial focus is on the consumer packaged goods sector, particularly food and beverages. What sets Cashew apart in the crowded landscape of AI marketing tools is its blend of automation and human expertise. Each client project yields fresh human data, ensuring that the insights gained are relevant and actionable. As the company evolves, it is poised to strengthen its competitive edge by anonymizing and storing real-world data from client projects, which can enrich future research endeavors. Having secured C$1.5 million in pre-seed funding, Cashew is preparing to launch its seed round in early 2026, aiming to raise up to $5 million. This funding will fuel ongoing product development. Looking ahead, Graves emphasizes the importance of expanding Cashew’s footprint in the U.S. market and enhancing its business-to-business operations. She noted, “The existing research buyers represent a significant market, but there’s an even larger group that hasn’t engaged due to cost or timing constraints. We’re creating a new avenue for marketers to access the insights they desperately seek.”