VisionAI, an AI research lab headquartered in Bielefeld, Germany has secured €5 million in funding. Led by HV Capital, the round included the participation of Christian Reber (founder at Pitch, Superlist, Wunderlist, and Interface Capital), Niklas Jansen (co-founder at Blinkist), Oliver Flaskämper, and Philipp Westermeyer (founder at OMR).
With the intention to expand and evolve, VisionAI plans to use the funds to internationalise its business further.
AI for e-commerce retailers
VisionAI was founded by Julian Meyer, Melvin Schwarz and Berkan Cinar in 2021. It was originally founded as Recommedy, an online shop that aimed to connect customers with product manufacturers through product photos.
It was rebranded VisionAI earlier this year and became a technology platform. Currently, it has 30 employees with 18 dedicated to technical development, collaborating closely with Bielefeld University.
VisionAI has developed an AI solutions suite aimed at helping SMBs build their online presence and compete with industry giants like Amazon and Alibaba. Also, it provides a comprehensive toolbox of technologies and AI solutions for online retailers.
As per VisionAI, it been able to generate €1.5 million in sales and is working with nearly 120 customers worldwide, including New Balance and Alpha Industries.
“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,” explained VisionAI founder Melvin Schwarz. “With our cross-selling tool, partner shops were able to increase their sales by more than 10 percent.”
