VC Fund Investments
Image processing tech startup Spyne raises $7-M from Accel, others
Bengaluru-based image processing deeptech company Spyne has raised USD 7 million from Accel India with participation from existing investors including Storm Ventures, Smile Group, Pentathlon Ventures and Core91. Spyne develops fully automatic, AI image processing products to help e-commerce marketplaces in the automotive, fashion, and retail industries to enhance and develop the visual value of their images without a physical studio. Spyne plans to use the new funds to acquire more talent, for global expansion including in the USA and to set up a computer vision lab for deeper research and development (R&D). Spyne also intends to expand its horizons into the fields of augmented and virtual reality to build products for the metaverse and omniverse. In August 2019, the company raised around INR 4.5 crore in a round led by AngelList Venture; Smile Group; Manish Amin, chief operating officer of Yatra, and other angel investors.
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