ViSenze, a Singapore-based artificial intelligence company that develops visual technology for e-commerce and digital businesses, completed a US$10.5m Series B funding round.
The company intends to use the funds to further invest in proprietary image recognition technology, expand headcount and grow its international offices.
The round was led by Rakuten Ventures, WI Harper Group and Enspire Capital with participation from SPH Media Fund, the investment arm of media company Singapore Press Holdings (SPH), FengHe Fund Management – an Asian alternative asset management firm founded by Alibaba ex-CTO John Wu, Raffles Venture Partners, Phillip Private Equity, and UOB Venture Management.
Led by Mr. Oliver Tan, Co-Founder and CEO, ViSenze is an Artificial Intelligence company that develops advanced visual search and image recognition solutions for businesses in e-commerce, retail and content publishing. Built on technology combining machine learning and computer vision, ViSenze recommends visually similar items to online shoppers, either on e-commerce platforms when they browse or search by uploading a picture, or on content publishers platforms like social media and video networks. These solutions are used by large e-commerce companies like Rakuten, ASOS, Myntra and Lazada.
The company, a spin-off from NExT, a research centre jointly established between National University of Singapore and Tsinghua University of China, has offices in San Francisco, New Delhi and Singapore.