Retail technology

Syte, an Israeli artificial intelligence tech startup that powers visual search for the likes of M&S and boohoo, has raised $21.5 million in a Series B round led by Viola Ventures. This brings its total funding to $30 million. "We have a vision to transform product discovery, and thus the e-commerce experience, for both retailers and consumers. That vision is what has led us since we founded Syte, and it is what continues to lead us as we enter this stage of hyper-growth," says Syte's Co-Founder and CEO, Ofer Fryman. "For us, the validation of our technology and product development has come from our clients, who have selected us to help them stay competitive in the fast-evolving retail industry. With this round we look forward to expanding our product offering in order to support our clients in more aspects of their digital innovation."