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