Funding

[Funding alert] Germany-based VisionAI Secures €5 Million in Seed Funding

Oct 24, 2023 | By Startup Rise EU

The German startup VisionAI has raised €5 million in initial money. Christian Reber (founder of Pitch, Superlist, Wunderlist, and Interface Capital), Niklas Jansen (co-founder of Blinkist), Oliver Flaskämper, and Philipp Westermeyer (founder of OMR) were also involved in this round, which was led by HV Capital.
Team - VisionAI

The German startup VisionAI has raised €5 million in initial money. Christian Reber (founder of Pitch, Superlist, Wunderlist, and Interface Capital), Niklas Jansen (co-founder of Blinkist), Oliver Flaskämper, and Philipp Westermeyer (founder of OMR) were also involved in this round, which was led by HV Capital.

VisionAI uses AI to give e-commerce merchants a chance in a market dominated by online giants like Amazon and Zalando, similar to what competitors Depict and 35up are working on.

VisionAI founder Melvin Schwarz said, “When selling online, it is crucial that the right person finds the right item immediately. Our tools open the eyes of online shops and thus ensure more sales,“With our cross-selling tool, partner shops were able to increase their sales by more than 10 percent.”

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VisionAI says that its suite of plugins for Shopware 5/6 or Shopify can give medium-sized enterprises services similar to those of Amazon because it has trained its offer on more than 30 million specialised photos.

According to VisionAI, in its first 15 months of functioning, it was able to make €1.5 million in sales and currently has 120 international clients, including New Balance and Alpha Industries.

Read also -  Amsterdam-based Climate Tech Startup Overstory Secures $14M Series A Round Funding

About VisionAI

Despite machine learning's advancements, internet commerce has had trouble integrating these new tools. We set out on a quest to change this destiny as a united team of former online retailers and researchers.

Independent stores may now compete with the eCom giants by giving them access to VisionAI, ushering in a new era of prosperous independent businesses.

Read also - Accenture Acquires ON Service GROUP to Help Insurers in Germany Improve Operational Resiliency

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