SeeChange Technologies secures £8m in series A funding led by TriplePoint to expand commercial operations.
The series A round was led by TriplePoint with backing from Runa Capital, True Capital, and Crane Venture Partners.
SeeChange Technologies develops visual artificial intelligence software designed to improve retail operations, including self-checkout enhancement and loss reduction. The company was established in 2018 and spun out from Arm Holdings in 2021.
Manchester-based visual artificial intelligence firm SeeChange Technologies has secured £8m in a series A funding round led by TriplePoint. The financing also drew participation from new backers Runa Capital and True Capital, alongside existing backer Crane Venture Partners.
The capital injection will be directed towards accelerating commercial deployments and expanding the company's commercial and support teams. SeeChange offers a platform named SeeWare, which integrates with existing retail hardware to handle tasks such as self-checkout assistance and loss prevention.
In tandem with the funding announcement, the company appointed Richard Irving, co-founder of Pond Venture Partners, as its new chairman. SeeChange originally began as a subsidiary of Arm before spinning out independently two years ago.
From the founder
"I am pleased to welcome our new investors, joining our friends at Crane who have been with us since the beginning,"
Jason Souloglou
Co-founder and CEO at SeeChange Technologies
Investor perspective
"AI is reshaping the world as we know it, and SeeChange’s groundbreaking technology promises to revolutionize the retail landscape. By providing retailers with real-time visual insights to enhance security and optimize their spaces, SeeChange is poised to redefine what’s possible in the retail industry and beyond,"
Krishna Visvanathan
General Partner, Crane Venture Partners
Use of funds
- 01Grow the team
- 02Expand into international markets
Investors
Categories
About the company
SeeChange Technologies
SeeChange Technologies develops visual AI software that optimises retail operations and self-checkout systems.