Spyne, a Gurgaon, India-based AI-powered visual merchandising platform for the automotive industry, has raised $16 million in Series A funding.  

Investors  

The round was led by Vertex Ventures, with continued support from existing investors, including Accel, Storm Ventures, and Alteria Capital.  

Founded in 2015, Vertex Ventures US is a venture capital firm based in Palo Alto, California, specializing in seed and early-stage investments. The firm focuses on enterprise and deep tech companies.  

Spyne Use of Funds  

The company will use the funding to enhance its AI-powered platform, broaden its technology infrastructure, and expand into new international markets, including high-growth regions across EMEA and APAC.  

About Spyne  

Founded in 2020 by Sanjay Varnwal and Deepti Prasad, Spyne is a deeptech company that provides an AI-powered visual merchandising platform for the automotive industry. Its platform helps car dealerships create high-quality visual content, including images, 360-degree spins, and automated marketing videos using AI. Spyne aims to transform automotive retail by leveraging cutting-edge AI to enhance vehicle showcasing, streamline operations, and drive dealer profitability. 

Funding Details  

Company: Spyne  

Raised: $16.0M  

Round: Series A  

Funding Date: February 2025  

Lead Investors: Vertex Ventures  

Additional Investors: Accel, Storm Ventures, Alteria Capital  

Company Website: https://www.spyne.ai/  

Software Category: AI Visual Merchandising

Source: https://www.spyne.ai/blogs/spyne-raises-16m-led-by-vertex