Syte.ai, a Tel Aviv, Israel-based startup combining Artificial Intelligence (AI) and fashion, raised $8m in Series A funding.
The round was led by NHN ventures, and includes Naver corporation, Line corporations, Magma VC, Remagine VC, KDC Ventures and NBM Ventures.
The company plans to use the money to expand its presence in the US, Europe, and Asia Pacific.
Founded in 2015 by Ofer Fryman, Dr Helge Voss, Idan Pinto, and Lihi Pinto Fryman, Syte.ai uses visual search algorithms to enhance customers’ shopping experience, providing a user experience specific to the needs of the retailers and publishers’ sites, enabling them to find the best matches and complete their look.
The company’s first product, glamix, is an AI personal fashion assistant designed to create a seamless shopping experience for consumers.
Its second product is an AI visual search fashion platform exclusively for retailers and publishers to assist online shoppers in finding their desirable look.