Spyne is an AI-powered visual merchandising platform specializing in the automotive industry. Founded in 2018 by Sanjay Varnwal and Deepti Prasad, the company has evolved from serving multiple industries to focusing exclusively on automotive retail. Spyne's solutions enable dealerships to create professional-grade images and videos without the need for physical studios, streamlining the vehicle showcasing process.
Originally catering to various sectors like fashion, food, and real estate, Spyne pivoted in 2023 to concentrate solely on the automotive sector. This strategic shift led to significant growth, with the company experiencing a 5X revenue increase over 15 months and aiming for a 3X revenue boost in FY25- 26. Spyne now serves over 1,500 dealerships worldwide, with a strong presence in the U.S. and Europe.
Spyne has raised approximately $27 million in funding. In 2022, it secured $7 million in a round led by Accel. In 2025, it raised an additional $16 million in a Series A round led by Vertex Ventures, with participation from existing investors like Storm Ventures and Alteria Capital. The funds are being utilized for U.S. expansion, enhancing technology infrastructure, and developing AI-driven solutions for automotive retail.
Spyne flagship product, Retail AI, offers an end-to-end solution for used car dealerships. Key features include:
VIN Decoder: Provides instant access to a car's complete history.
Real-Time Pricing Insights: Offers competitive market pricing data.The Economic Times
Spyne is developing advanced AI features, including:
Lead Scoring: Identifies high-intent buyers using AI-driven analytics.
Automated Marketing Videos: Generate promotional content for vehicles.
Spyne emphasizes innovation and efficiency, with a team comprising tech experts, industry analysts, and thought leaders. The company values empowering small and medium-sized dealerships by providing them with tools to compete effectively in the digital marketplace.
Spyne serves over 1,500 dealerships globally, with a significant portion of its business in the U.S. and Europe. The company aims to expand its dealer base to over 20,000 rooftops worldwide, focusing on high-growth regions across EMEA and APAC.
