Phyron funding news- Stockholm-based Phyron Secures €10Million in Series B Round Funding

Round2 Capital, a London- and Vienna-based company, spearheaded the Phyron investment by providing extra revenue-based finance and equity investment. The automobile retail giant Peter Vardy and current investors took part in the round as well.

Jan Hillered, co-founder and managing partner of Round2 Capital, says, “Since we met the Phyron team and decided to make our first investment, the company’s development has been very positive. We value the relationship we have built and look forward to supporting the next phase of the company’s growth. We believe that Phyron is planning the right next steps to take advantage of opportunities in a dynamic market environment.”

With the help of the funding, it will be able to extend its operations into other markets, with a focus on the US, hire "top" industry talent for its team, and expedite the development of its AI and automation technologies.

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Johan Sundstrand, co-founder and CEO of Phyron, says, “We want AI and automation to be the go-to marketing tool for automotive retail. This new funding means that we can invest more in our technology and grow our team in core areas, with a view to improving the AI experience, We’re very excited to continue our relationship with Round2 and to be working with Peter Vardy, who, in addition to decades of automotive retail experience in the UK, has a keen passion for emerging technology.”

With €180M under management, Round2 Capital is a pan-European investment firm. Established in 2017, the company focuses on providing revenue-based financing and growth equity investments around Europe to digital and sustainable enterprises.

About Phyron

Phyron is a platform for creating AI content for automobile dealers that is completely automated. They convert existing automobile inventory images and data into captivating films and AI-enhanced graphics. Not a single physical labour is needed. On dealer websites, social media, and local marketplaces, their software instantly posts ads in real time.