SeeChange Technologies, a Manchester, England-based retail-focused visual AI, has closed a seed extension funding round of £8 million (approximately US$10 million).
SaaS Investors
The round was led by Crane Venture Partners and Triple Point Ventures, with participation from new investors Runa Capital, True, Portfolio Ventures, and Material Ventures.
Founded in 2015, Crane Venture Partners is a venture capital investment firm based in London, United Kingdom, which prefers to invest in early-stage European companies operating in the technology sector. The firm prefers to invest in software-as-a-service, open-source data, machine learning, and software sectors.
Triple Point Ventures is a UK early-stage VC investing in high-growth companies with top-class teams and market-leading products. Founded in 2004, the firm prefers to invest in promising start-ups across multiple sectors including ecommerce, AI, platforms, and wider tech.
SeeChange Technologies Use of Funds
The company will use the funds to expand customer commercial deployments and strengthen commercial and support teams.
About SeeChange Technologies
SeeChange Technologies is a retailer-focused computer vision and AI technology company. Its Visual AI platform, SeeWare, aims to address the growing problem of losses in the retail sector. SeeWare provides intelligent and connected systems for stores, faster checkouts, preemptive stockout management, and capabilities to decrease theft, enhancing safety for employees and shoppers. With an initial focus on solutions for retail, SeeChange is on a mission to help humanity thrive through the power of visual AI technology.
Funding Details
Company: SeeChange Technologies Ltd.
Raised: £8.0M
Round: Seed Extension
Funding Month: November 2023
Lead Investors: Crane Venture Partners and Triple Point Ventures
Additional Investors: Runa Capital, True, Portfolio Ventures, and Material Ventures
Company Website: https://seechange.com/
Software Category: Retail Solutions
Source: https://www.prweb.com/releases/seechange-technologies-raises-8m-in-seed-extension-funding-to-transform-global-retail-with-visual-ai-301993202.html