VC Fund Investments
Visual Merchandising enabler for auto industry Spyne raises $16-M led by Vertex Ventures
Gurugram-headquartered Spyne , an AI-powered visual merchandising platform for the automotive industry, has raised USD 16 million in a Series A funding round led by Vertex Ventures. The round also saw participation from existing investors, including Accel, Storm Ventures, and Alteria Capital, which doubled down on their investments in the startup.The company plans to deploy the investment to expand in the US and for developing its next-generation AI solutions designed for automotive retail.Spyne claims to have experienced a 5X growth over the past 15 months and is targeting a 3X revenue increase in FY 2025-26.
In Apr 2022, Spyne had raised about USD 7 M from Accel India, Core91 VC, Pentathlon Ventures, Storm Venturesand Others.
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