Funding infusion accelerates commercial deployments and SeeChange’s vision for a smarter and safer retail future. Manchester, UK, Nov. 21, 2023, 12 pm GMT – SeeChange Technologies, a leader in retail-focused visual AI, today announced the closing of its series A funding of £8M (US$10M) led by TriplePoint, with participation from new investors including Runa Capital and True Capital, and original investor Crane Venture Partners. Get Deal News in your inbox every Monday.
SeeChange’s Visual AI platform, SeeWare® enhances self-checkout, preempts stockouts, improves safety, and reduces loss.
SeeWare processes video from retailers’ existing hardware and is easily deployed and scaled across the retail enterprise. SeeWare has been successfully piloted and commercially trialed by leading retail customers and partners including Diebold Nixdorf, a leading retail technology platform provider.
Founded in 2018, SeeChange was spun out of Arm Holdings in 2021, having completed development of SeeWare. In connection with this funding, SeeChange is pleased to welcome Richard Irving as Chairman. Based in Silicon Valley, Richard co-founded Pond Venture Partners and has over 30 years’ international operating experience building startups to successful levels of scale and impact. “I am pleased to welcome our new investors, joining our friends at Crane who have been with us since the beginning,” “This is a strong vote of confidence in the unique and proven capabilities of our SeeWare platform for the entire ecosystem of global retail – delivering improved profitability by enabling an enhanced and modern shopping experience. This funding will expand commercial deployment and strengthen our commercial and support teams,” said Jason Souloglou, co-founder, and CEO of SeeChange.
“AI is reshaping the world as we know it, and SeeChange’s groundbreaking technology promises to revolutionize the retail landscape. By providing retailers with real-time visual insights to enhance security and optimize their spaces, SeeChange is poised to redefine what’s possible in the retail industry and beyond,” said Krishna Visvanathan, General Partner at Crane Venture Partners.
About SeeChange TechnologiesSeeChange Technologies is a world leader in real-time AI-powered recognition systems, with expertise in making complex, state-of-the-art AI technology simple to deploy and scale in the real world. SeeChange was founded in 2018 as a subsidiary of Arm, becoming independent in 2021 with investment from Crane Venture Partners. With an initial focus on solutions for retail, SeeChange is on a mission to help humanity thrive through the power of visual AI technology. For more information, visit http://seechange.com.
Tags: Crane Venture Partners, Runa Capital, TriplePoint, True Capital