To expand in US, EMEA, and APAC, Vertex Ventures SEA & India leads Spyne’s $16 M Series A round
In a Series A funding round headed by Vertex Ventures, Spyne, India’s AI-powered visual merchandising platform for the automotive sector, has raised $16 million.
According to a post, current investors Accel, Storm Ventures, and Alteria Capital also participated in the round and increased their stakes in the startup.
With a focus on aggressive US expansion and the development of its next-generation AI solutions aimed at revolutionizing automotive retail, this investment will support Spyne’s growth trajectory.
Spyne intends to grow its dealer base from 1,500 to over 20,000 rooftops worldwide in the upcoming years, maintaining a solid presence in both the Indian and international markets.
The company will be able to expand into new international markets, including high-growth areas in APAC and EMEA, improve its AI-powered platform, and expand its technology infrastructure thanks to the new funding.
Additionally, Spyne is developing a unified Automotive Retail Suite powered by GenAI and LLM, going beyond its core visual merchandising capabilities. By covering every facet of their retail journey, from vehicle sourcing and pricing to digitization, distribution, and AI-driven customer management, this all-inclusive solution will empower small and medium-sized dealers and revolutionize the way dealerships function through the use of 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 are 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.”
Along with a group of account executives and customer success specialists, Spyne is forming a specialized US business development team under the direction of an accomplished country head in order to support this audacious objective. This calculated action will strengthen the startup’s brand recognition across the nation and cultivate closer ties with OEMs, dealerships, and marketplaces.
Piyush Kharbanda, General Partner at Vertex Ventures SEAI, commented, “At Vertex, we have had a longstanding thesis around specialised AI Applications solving vertical use cases. Spyne has proven this in solving a fundamental pain point for auto dealerships leveraging AI to optimise 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.”
Spyne has grown five times over the last fifteen months, and in FY 2025–2026, it plans to aggressively triple its revenue. In order to spur further global adoption, the company is continuing to replicate its successful US go-to-market strategy by entering new international markets, including high-growth areas in EMEA and APAC.
