Dayta AI, a Hongkong-based video analytics solution provider, raised $5 million in a Series A funding round co-led by Transcend Capital Partners and VU Venture Partners.
Venture capital and strategic investors including Betabox Ventures, HKUST Entrepreneurship Fund, Māori Capital, Wings Capital Ventures, and more, also participated in the round.
The funds will be used to further optimize the cloud infrastructure and develop new AI models. Another primary use of proceeds will be fueling overseas expansion.
Dayta AI is a Retail Analytics SaaS company that leverages existing cameras to acquire visitors’ behavioral data and generate actionable insights.
"At Dayta, we pride ourselves on delivering innovative and practical AI solutions that help businesses thrive," said Patrick Tu, CEO and co-founder of Dayta AI. "As our client base expands, we shall constantly refine our offerings and provide unparalleled insights for our clients."
Dayta AI recently released v4 of Cyclops, which represented a significant advancement in AI modules and UIUX. The latest version improved algorithm quantization, quality dataset expansion, and infrastructure scalability to boost model performance and stability.
Company: Dayta AI Limited
Round: Series A
Funding Month: July 2023
Lead Investors: Transcend Capital Partners and VU Venture Partners
Additional Investors: Betabox Ventures, HKUST Entrepreneurship Fund, Māori Capital, Wings Capital Ventures
Company Website: https://www.dayta.ai/
Software Category: Retail Analytics SaaS Solutions
About the Company: Founded in 2018, Dayta AI is a software company that provides Retail Analytics SaaS solutions for brick-and-mortar retailers through cloud computing, machine learning and big data. The company’s product, Cyclops, enables brick-and-mortar retailers to optimize their sales, traffic, and operations under the aegis of Computer Vision and Business Intelligence. Dayta AI applications stretch across retail stores, shopping malls, supermarkets, airport lounges, and restaurants, serving clients in Hong Kong and the Asia Pacific region.