Phyron, a Stockholm, Sweden-based AI-powered content creation platform for car dealers, has closed €10 million in Series B funding. 

Investors

The round was led by Round2 Capital, with participation from Peter Vardy, a prominent automotive retailer in the UK.  

Round2 Capital, founded in 2017, is a pan-European investment firm managing €180M. Specializing in revenue-based finance and growth equity investments, they support digital and sustainable businesses across Europe. Backed by the European Investment Fund (EIF), Round2 Capital has funded 36 software and technology scale-ups in 9 jurisdictions. 

Phyron Use of Funds

The company plans to use the funding to accelerate the development of its AI and automation technology, expand its team, and enter new markets, notably the US. 

About Phyron

Founded in 2019, Phyron provides AI-powered content creation tailored specifically for car dealerships. Their platform automates the production of product videos, enabling car dealerships to streamline sales processes and reduce costs associated with content creation. Phyron serves a global customer base of over 3,000 car dealerships across 30 countries. Recently, they expanded their operations by opening a new office in Brighton, UK, alongside their headquarters in Stockholm, Sweden. 

Funding Details  

Company: Phyron AB  

Raised: €10.0M 

Round: Series B  

Funding Month: July 2024   

Lead Investors: Round2 Capital  

Additional Investors: Peter Vardy  

Company Website: https://www.phyron.com/   

Software Category: Content Creation  

Source: https://siliconcanals.com/phyron-bags-e10m-in-growth-funding/