Spyne, a leading AI-powered visual merchandising startup for the automotive industry, has raised $16 million in Series A funding. The investment round was led by Vertex Ventures, with additional contributions from existing investors Accel, Storm Ventures, and Alteria Capital. These investors have shown strong confidence in Spyne’s innovative AI solutions, doubling down on their previous investments.
The fresh funding will help Spyne expand in the U.S. and other global markets, strengthen its AI-powered technology, and introduce new solutions to transform online vehicle retailing.
AI Solutions for Automotive Retail
Spyne’s AI platform allows car dealerships to showcase vehicles online more effectively, creating high-quality images and immersive virtual experiences without expensive photography setups. The company aims to take automotive digital merchandising to the next level by integrating Generative AI (GenAI) and Large Language Models (LLMs) into its Automotive Retail Suite.
This investment is a big step forward for Spyne. We are pushing the limits of what AI can do for the automotive retail industry. Our mission is to make digital vehicle showcasing smarter, faster, and more immersive for dealerships worldwide.
Sanjay Varnwal, Co-Founder and CEO of Spyne
By using AI-driven solutions, car dealerships and online vehicle retailers can optimize their sales operations. The goal is to make the buying and selling of vehicles faster, easier, and more engaging for customers worldwide.
Plans After Fresh Funding
With this funding, Spyne will aggressively expand in the U.S. market while also entering high-growth international markets, including EMEA (Europe, the Middle East, and Africa) and APAC (Asia-Pacific). The company plans to replicate its successful go-to-market strategy from the U.S. to drive further global adoption of AI-driven vehicle retail solutions.
Co-Founder and CEO of Spyne, Sanjay Varnwal, highlighted the impact of the investment, stating: “We are excited to have Vertex Ventures join us in this journey, along with continued support from Accel and Storm Ventures, as we build an industry-leading AI platform.”
Investors Shows Confidence
Piyush Kharbanda, General Partner at Vertex Ventures SEAI, emphasized the potential of AI in the automotive sector:
“At Vertex, we believe in specialized AI applications solving industry-specific problems. Spyne has successfully tackled a major challenge for auto dealerships, using AI to optimize vehicle merchandising and online sales. We are proud to lead this investment round and support Spyne in becoming a market leader in the space.”
Spyne has seen 5 times growth in the last 15 months, and it now aims for a 3 times revenue increase in FY 2025-26. The company’s continued success in global markets and AI innovation positions it as a key player in transforming online vehicle sales.
With strong investor backing and cutting-edge AI solutions, Spyne is set to revolutionize how cars are bought and sold online, making automotive digital merchandising more efficient, scalable, and visually appealing worldwide.
