Recently, Seechange Technologies, a vision AI company, announced the successful completion of a Series A financing of 8 million pounds (about 70 million yuan). Founded in 2018, the company will use the funds to further expand its vision AI platform, SeeWare, which aims to improve self-checkout, prevent stockouts, improve security, and reduce losses.
The Seeware platform makes it easy to deploy and scale across the retail enterprise by analyzing data from retailers' existing hardware. The round was led by TriplePoint, with participation from new investors Runa Capital and True Capital, as well as existing investors Crane Venture Partners. In addition, with the completion of this round of financing, SeeChange also welcomed Richard Irving as chairman.
Jason Souloglou, Co-Founder and CEO of Seechange, said: "We are delighted to welcome new investors to our ranks and thank Crane Venture Partners for their continued support. This financing is a testament to the uniqueness and maturity of our Seeware platform in the global retail ecosystem, enabling retailers to achieve greater profitability by delivering an improved shopping experience." The financing will be used to expand the commercial deployment and grow our commercial and support teams. ”
Krishna Vevanathan, General Partner at Crane Venture Partners, said: "Artificial intelligence is reshaping the world as we know it, and SeeChange's breakthrough technology has the potential to revolutionize the face of retail. By providing retailers with real-time visual insights to enhance safety and optimize space layouts, SeeChange is poised to redefine what's possible in the retail industry and beyond. ”
Since its inception, SeeChange has been committed to developing innovative visual AI technologies to meet the needs of the ever-changing retail environment. With its unique technology and broad customer base, SeeChange will continue to drive the digitalization of the retail industry and provide smarter and more efficient services to retailers around the world.