Spyne raises $7M in a round led by Accel

Spyne is a Gurugram-based startup enabling businesses and marketplaces to create high-quality product images and videos at scale with AI. The company, Spyne has raised $7 million in its latest funding round.

The funding round was led by Accel and also witnessed participation from Storm Ventures, Smile Group, Pentathlon Ventures, and Core91.

The fresh capital will be invested in fields like-

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 space.
To expand its technological horizons into the field of AR / VR to build products for Metaverse and Omniverse.

Spyne was founded by Sanjay Kumar and Deepti Prasad in the year 2018. Spyne claims to develop 100% automatic, industry-first AI image processing products to help ecommerce businesses in the automotive industry. Fashion and retail industry enhancement in the visual value of the images without a physical studio. The AI tech products enable businesses to generate 500 times faster studio-finish images and help them increase operations in real-time.

As per the researchers, the company is serving more than 80 customers, including Amazon India, Flipkart, Karvi, OLACars, SellAnyCar, Udaan, etc., across 15 countries at the current time.

EXECUTIVE OPINION:

Sanjay Kumar, Co-founder, and CEO at Spyne, said, “Our vision is to empower the smallest of sellers, situated in the farthest of corners, to create superior product images and videos, without the need of any experts. They only need a smartphone to sell online and compete with big sellers. In the last 12 months, we launched multiple use cases across automotive, food, ecommerce, and fashion verticals seeing phenomenal growth in revenues.”

“Spyne is using the latest advancements in AI to help small merchants create studio-quality ecommerce catalogs cheaply and quickly. Spyne’s product has already found good early adoption from discerning customers globally and we can’t wait for them to reach each and every ecommerce merchant over the years! We were very impressed with the customer centricity of Sanjay and Deepti along with the persistence they’ve shown over the last couple of years to get Spyne off the ground,” added Pratik Agarwal, Principal at Accel.

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Spyne raises $7M in a round led by Accel

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