Manchester-Based SeeChange Technologies Raises £8M in Seed Funding
SeeChange Technologies, a Manchester, UK-based company specializing in retail-focused visual AI, recently announced that it has raised £8M in Seed funding. The funding round was led by TriplePoint, with participation from new investors including Runa Capital and True Capital, as well as original investor Crane Venture Partners. The company plans to use the funds to expand its commercial deployment and strengthen its commercial and support teams.
Founded in 2018 as a subsidiary of Arm Holdings, SeeChange Technologies became an independent company in 2021 with investment from Crane Venture Partners.
With CEO Jason Souloglou at the helm, the company is known for its real-time AI-powered recognition systems. Their expertise lies in making AI technology simple to deploy and scale in the real world. SeeChange Technologies initially focused on providing solutions for the retail sector.
The company's Visual AI platform, SeeWare®, aims to enhance various aspects of the retail experience. It improves self-checkout processes, preempts stockouts, enhances safety measures, and reduces loss. SeeWare achieves this by processing video from retailers' existing hardware. The platform has been successfully piloted and commercially trialed by leading retail customers and partners, including Diebold Nixdorf, a renowned retail technology platform provider.
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