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Enter your email to download the report. Email * Submit INSTANT DOWNLOAD Download Report Enter your phone to download the report. Phone Number * Submit Download Your Report Download Skip to content Introducing Spin 360! First 500 signups will get 25% off || Check it Out Book a Demo Book a Demo ","library":"fa-solid"},"toggle":"burger"}" data-widget_type="nav-menu.default"> Menu Book a Demo ","library":"fa-solid"},"toggle":"burger"}" data-widget_type="nav-menu.default"> Menu Book a Demo Blogs Press Spyne Closes $1... Spyne Closes $16M Series A Funding Round, Led by Vertex Ventures, to Accelerate Expansion Spyne Team February 18, 2025 February 18, 2025 5 Min Read 5 Min Read Download Automotive Report 2024 The startup will use the funding to expand its presence in the U.S. from 1,500 to over 20,000 rooftops over the next few years. Spyne will introduce a GenAI-powered unified automotive retail solution that will enhance the complete retail journey for dealerships. New Delhi, 18th February 2025 – Spyne, India’s first and leading AI-powered visual merchandising platform for the automotive industry, has raised $16 million in a Series A funding round led by Vertex Ventures. The round also witnessed participation from existing investors, including Accel, Storm Ventures, and Alteria Capital, which doubled down on their investments in the startup. This investment will fuel Spyne’s growth trajectory, focusing on aggressive expansion in the U.S. and developing its next-generation AI solutions designed to transform automotive retail. With a strong foothold in the Indian and global markets, Spyne plans to expand its dealer base from 1,500 to over 20,000 rooftops worldwide in the coming years. The fresh capital will enable the company to enhance its AI-powered platform, broaden its technology infrastructure, and expand into new international markets, including high-growth regions across EMEA and APAC. Further, Spyne is evolving beyond its core visual merchandising capabilities to build a unified GenAI and LLM-powered Automotive Retail Suite. This comprehensive solution will empower small and medium-sized dealers by addressing every aspect of their retail journey — from vehicle sourcing and pricing to digitization, distribution, and AI-driven customer management, transforming how dealerships will operate using Agentic AI. Sanjay Varnwal, Co-Founder and CEO of Spyne, expressed his vision for the company, “This investment marks a pivotal moment for Spyne as we accelerate our U.S. expansion and push the boundaries of what AI can do for automotive retail. Our vision is to make digital vehicles showcasing smarter, faster, and more immersive for dealerships worldwide. We’re thrilled to have Vertex Ventures on board, alongside the unwavering support of our existing investors Accel and Storm, as we build a category-defining Retail AI platform for the industry.” To support this ambitious goal, Spyne is establishing a dedicated U.S. business development team, led by an experienced country head, alongside a team of account executives and customer success professionals. This strategic move will further build the startup’s brand presence in the country and foster deeper connections with dealerships, OEMs, and marketplaces. Piyush Kharbanda, General Partner at Vertex Ventures SEAI, commented,“At Vertex, we have had a longstanding thesis around specialized AI Applications solving vertical use cases. Spyne has proven this in solving a fundamental pain point for auto dealerships leveraging AI to optimize vehicle merchandising and retail operations at scale. We are excited to lead Spyne’s Series A and support their journey as they transform how cars are bought and sold online and scale to be a standout market leader in the space.” Pratik Agarwal, Principal at Accel, added,“Spyne’s decision to focus on vertical SaaS for auto has been a masterclass in execution—turning a moving ship while continuing to scale. The team’s resilience in solving GTM, combined with their capital-efficient approach, has brought them close to profitability. More importantly, we’ve witnessed firsthand the founders and management team evolve, deepening our conviction in their ability to execute on an ambitious, transformative vision for the industry. With an industry-leading product and roadmap, Spyne is poised to redefine how auto commerce operates globally, and we’re excited to continue supporting their journey.” Over the past 15 months, Spyne has experienced 5X growth and is targeting an ambitious 3X revenue increase in FY 2025-26. The company continues to expand into new international markets, including high-growth regions in EMEA and APAC, replicating its successful U.S. go-to-market strategy to drive further global adoption. About Spyne: Founded in 2020 by Sanjay Varnwal and Deepti Prasad, Spyne started as a merchandising platform serving multiple industries, including automotive, food, eCommerce, real estate, etc. In 2023, the company shifted its focus entirely to automotive, launching India’s first AI-powered visual merchandising platform — enabling dealerships to create studio-quality images, 360-degree spin videos, and automated marketing videos. Today, Spyne’s AI-driven solutions empower independent dealers, large dealerships, and marketplaces to create professional, high-quality visuals at scale, at one-quarter of the cost, and with unmatched speed using AI. The company aims to transform automotive retail by leveraging cutting-edge AI to enhance vehicle showcasing, streamline operations, and drive dealer profitability. As mentioned in: The Economic Times: Spyne raises $16 million in round led by Vertex Ventures The Hindu Business Line: Spyne raises $16 million in Series A funding led by Vertex Ventures, to accelerate expansion Inc42: Spyne Bags $16 Mn To Build GenAI Suite For Automotive Dealers YourStory: Deeptech startup Spyne raises $16M in Series A round led by Vertex Ventures Business Standard: Spyne raises $16 million Series A to drive US expansion, AI innovation SHARE THIS POST CONTENT No headings were found on this page. Try for Free SHARE THIS POST CONTENT No headings were found on this page. Try for Free THE SPYNE STORY Built to Handle Massive Scale 100+ Read More Enterprise customers and partners 5M+ Read More Images processed every month​ 75+ Read More Computer vision models deployed 10+ Read More Fortune 500 clients 100+ Read More Enterprise customers and partners 5M+ Read More Images processed every month​ Previous Next Book a Demo FAQs Got questions? We've got answers. Find answers to common questions about Spyne and its capabilities. Book a Demo Book a Demo Related Articles More Blogs THE SPYNE STORY Built to Handle Massive Scale Book a Demo 5M+ Images processed every month 75+ Computer vision models deployed 10+ Fortune 500 clients 100+ Enterprise customers and partners Recent Blogs More Blogs Ready to Revolutionize Your Workflow? Join thousands of forward-thinking companies already using Spyne to dominate their industries. 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