Spyne, a Gurugram-based deeptech startup helping businesses and marketplaces create high-quality product images and videos at scale with AI, raised $7 million in its latest funding round.
The round was led by Accel, with participation from Storm Ventures, Smile Group, Pentathlon Ventures, Core91, and prominent founders/CXOs from leading internet companies.
The fresh capital will be invested in acquiring talent, bolstering global expansion including the US market, and setting up a state-of-the-art computer vision lab for deeper R&D in the space.
The brand also intends to expand its technological horizons into the field of AR / VR to build products for Metaverse and Omniverse, the statement added.
Company: Eventila Technologies Pvt Ltd.
Funding Month: April 2022
Lead Investors: Accel
Additional Investors: Storm Ventures, Smile Group, Pentathlon Ventures, and Core91
Company Website: https://www.spyne.ai/
Software Category: AI Image Editing Tools
About the Company: Founded in 2018 by Sanjay Kumar and Deepti Prasad, Spyne claims to develop 100 percent automatic, industry-first AI image processing products to help large ecommerce marketplaces in the automotive, fashion, and retail industry enhances the visual value of the images without a physical studio. The AI tech products enable businesses to create 500x faster studio-finish images and help them scale operations in real-time. Currently serves more than 80 customers including Amazon India, Flipkart, Karvi, OLACars, SellAnyCar, Udaan, etc across 15 countries. The company recently launched its self-serve AI technology for the automotive industry – Spyne AI Cars – and will further be replicating the model for the ecommerce and food industry in the upcoming months.