Syte, a Tel Aviv, Israel-based product discovery platform, raised $30m in Series C funding and an additional $10m in debt.
The round, which brings Syte’s total funding to $71m, was led by Viola Ventures with additional investments from LG Tech Ventures, La Maison, MizMaa Ventures, Kreos Capital, and existing investors Magma, Naver Corporation, Commerce Ventures, Storm Ventures, Axess Ventures, Remagine Media Ventures, and KDS Media Fund.
The company intends to use the funds to expand its geographic reach and to support the growth of its product offering. With much of their early customer base in Europe, the Middle East, and Africa, Syte will focus on expansion in the United States and Asia-Pacific.
Led by CEO and Co-founder Ofer Fryman, Syte provides a product discovery platform powered by visual AI, which enables brands and retailers to connect shoppers with products. Their solutions, including camera search, augmented site search, personalization engines, and smart in-store tools, empower shoppers to discover and purchase products instantly.
Leading brands and retailers, like Farfetch, Fashion Nova, Conforama, Signet Jewelers, and Zozo, partner with Syte to provide on-demand, hyper-personalized experiences.
FinSMEs
21/10/2020