VentureBeat: Syte Raises $40 Million to Bring Visual Search to Online Retailers
Visual search is now a core part of countless mobile apps, from Google Lens and Bing to Pinterest and eBay. But building the underlying AI infrastructure to let people search databases and catalogs using images rather than words is a resource-intensive endeavor requiring a lot of time and technical expertise, which is where Syte comes into play.
The Israeli startup has developed what it calls “the world’s first product discovery platform,” allowing companies of any size to integrate visual search into their own software via Syte’s API. Today, Syte announced that it has raised $30 million in a series C round of funding, plus an additional $10 million in debt financing, to expedite its global expansion and further develop its visual discovery engine.