[Funding alert] AI-based SaaS startup Spyne raises seed round led by Smile Group
AI-based SaaS startup Spyne on Tuesday raised an undisclosed amount as part of its seed funding led by Smile Group. The round also saw participation from other angel investors.
According to the startup, the latest funding will be used to build deeper technology solutions to streamline and distribute massive offline content for photographers.
Launched in July 2018, Spyne was founded by IIT Kharagpur alumnus Sanjay Kumar and Delhi School of Economics alumnus Deepti Prasad. It helps creative professionals such as photographers and corporations to seamlessly organise, edit, and share massive content within their network.
Further, it helps premium businesses to get high-quality images.
“Our vision is to build a single platform for creative professionals, businesses, and consumers across the globe to achieve their creative goals in the most effective manner. The digital photography industry is worth nearly $110 billion, with millions of photographers working as freelancers. There is a huge scope of innovation in the ways how content is stored, edited, and distributed to clients and social media platforms presently,” said Sanjay Kumar, Co-founder, Spyne.
Previously, Sanjay was leading the large product and technology teams at OYO, Amazon, Yatra, and Fashionandyou.
In addition to this, the team is working on a full spectrum of features such as face detection and auto-tagging of millions of photos with relevant text to make them crawled by Google. It is also working on AI-based photo and video editing solution to reduce the edit time of projects.
Spyne Co-founder Deepti added,
“Most of the photographers still use DVDs and USBs to share their content with customers. Some have moved onto cloud-based solutions. But, can the photographers deliver personalised experiences to the people viewing the content? Can an AI solution understand the photographer’s subjective enhancements on the images and replicate the same over the photographer’s next batch of images? Spyne is exploring this route.”
The company claims it is already on a high growth path. It has also signed up with more than 700 photographers in the last 10 months, and is looking to take its solution to more than 3,000 photographers by the year-end.
Until now, the startup claims to have enabled photographers to share more than 10 million images with their clients.
(Edited by Megha Reddy)