Snapshopr, a deep learning startup that offers Visual Search and Image Recognition solutions for products to brands, retailers and mobile apps developers, has raised angel round of funding from a bunch of technology executes. The funding has been led by Amod Malviya, former CTO, Flipkart with participation from other angel investors including Pallav Nadhani, Apurva Dalal, Saran Chatterjee, Rahul Chari, Bikas Barai and Bragadish Sureshkumar.
The financial details of the investment have not been disclosed.
The raised capital will be deployed towards enhancing product innovation and to bettering their visual intelligence platform for online retailers. The firm had announced its first investment from Amod Malviya as part of its ongoing round in September last year.
The company was founded by Navneet Sharma and Debashish Pattnaik, along with Vivek Gandhi as a team member in 2014. Adding a comment on the development and talking about the company’s vision, Navneet said, “We don’t want to dilute our value proposition at this stage of the market. But we believe that the scope of AI and Deep Learning is ubiquitous.”
Snapshopr helps its customers improve the search and discovery experience with its visual search and recognition products as part of its cloud-based visual intelligence platform. Instead of using text to describe visually rich categories of items like fashion and home decor, the end users of its visual search solution can simply use images taken from their camera or uploaded from their devices for search based on visual content of the image.
Other companies who are playing in the same segment are Wazzat, Viscovery, In a Snap etc.
To get a better understanding about the startup, readers may take a look at this profile covered by iamwire.