In its Series A round, headed by Vertex Ventures, Spyne , an AI-powered visual marketing platform for the automobile sector, has raised $16 million.

Existing investors Accel, Storm Ventures, and Alteria Capital also participated in the round.

AngelList and Smile Group, an existing investor, participated in the Gurugram-based startup's pre-Series A round earlier in May 2020 for an undisclosed sum.

The new revenue will be utilized to build the GenAI-powered retail suite for car dealers, improve technical infrastructure, and increase its market share in the US.

Sanjay Varnwal and Deepti Prasad founded Spyne in 2020 to help car dealers better display their vehicles. Its technology automatically improves automobile images, identifying any damage and giving them a polished, high-quality appearance.

Spyne says it has grown five times in the last fifteen months and plans to triple its sales in FY26.

Over 1,200 dealers are currently served by the firm globally, with the US accounting for 70% of its revenue and Europe for approximately 25%.

In order to spur greater worldwide adoption, Spyne is continuing to replicate its US go-to-market approach by entering new international markets, such as high-growth areas in EMEA and APAC.

Additionally, it is creating a GenAI-powered automotive retail solution that addresses customer management, pricing, digitization, and car sourcing.

Sanjay Varnwal, Co-Founder and CEO of Spyne expresses, “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’re 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.”

Piyush Kharbanda, General Partner at Vertex Ventures SEAI says, “At Vertex, we have had a longstanding thesis around specialized AI Applications solving vertical use cases. Spyne has proven this in solving a fundamental pain point for auto dealerships leveraging AI to optimize 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.”