Calgary's Slyce announced today that they raised $2.2 million via a convertible debenture.
Slyce is an advanced visual search platform which enables consumers to buy any item they see in the real world, simply by taking a picture of it with their smartphone.
The latest raise comes hot on the heels of the $3.75 million seed round announced earlier in the year and will allow them to finalize their consumer-focused platform and further pursue extensive B2B opportunities, supplying their advanced visual search technology to brands and retailers.
Along with today's financing news Slyce also announced the appointment of key mobile commerce tech specialist Mark Elfenbein to their expanding team in the position of Chief Digital Officer.
“I saw this as a golden opportunity in a sector which has massive growth potential. In my experience, the Holy Grail for brands is to interact with shoppers at their exact moment of inspiration and Slyce has developed a unique platform making that possible. Expect to see a rapid adoption of this technology in the next 12 months and utilizations by brands and retailers that will bring incredible innovation to the consumer M-Commerce experience,” said Elfenbein.
Slyce CEO Cameron Chell remarked, “Mark will offer incredible insight and expertise as we work with more leading brands & retailers to develop their visual search strategies. His industry knowledge will be invaluable for our growth.”
Release of the Slyce app for Android & iPhone is expected January 2014. Brands and beta testers are currently signing up at www.Slyce.it.