Level 1 Sponsor
Syte powers a comprehensive suite of visual AI solutions for retail ranging from visual search to product recommendations in order to enhance user experience. Syte’s offerings can be integrated on any retail or eCommerce site with no additional coding or maintenance, allowing for easy implementation. Syte developed a proprietary deep learning algorithm based on over 15 years of research which is used to power all of their solutions. In industry benchmarks, Syte’s technology has been proven to be 90% accurate in image-to-image search. Since emerging in the market in late 2017, Syte has been selected as a Gartner Cool Vendor in Retail AI, a strategic Microsoft Co-Sell partner, and as an innovative strategy partner by SAP Hybris. Some of the world’s technology leaders including Naver and Samsung have chosen Syte to power their visual search over their in-house solutions. By powering the visual search that will be live on the native camera and gallery of 800 Million Samsung devices, along with other leading mobile device manufacturers, Syte aims to create the world’s largest visual search marketplace.
Retailers currently utilizing Syte’s solutions include Farfetch, Kohl's, Marks & Spencer, boohoo, and more.
Syte has experience rapid growth since it's founding in 2014 and product launch in late 2017. They are represented by their headquarters in Tel Aviv as well as offices in London and Geneva. The company has raised $8 million to date from investors such as NHN Ventures, Magma, Naver Corporation, Line Corporation, Reimage Ventures, North Base Media and KDC Ventures.