The tech landscape in Germany is buzzing with excitement as VisionAI, an innovative AI research lab headquartered in Bielefeld, secures a substantial €5 million in funding. HV Capital, the leading venture capital firm, spearheaded this investment round. Notably, it also featured prominent tech figures like Christian Reber (founder of Pitch, Superlist, Wunderlist, and Interface Capital), Niklas Jansen (co-founder of Blinkist), Oliver Flaskämper, and Philipp Westermeyer (founder of OMR).
The infusion of this capital is poised to catapult VisionAI into a new phase of expansion and transformation. The lab, founded in 2021, has ambitious plans to further internationalize its operations, thus potentially becoming a global force in the field of AI.
What sets VisionAI apart is its relentless drive to empower small and medium-sized e-commerce businesses. It aims to offer them a competitive edge, enabling them to stand shoulder to shoulder with industry behemoths like Amazon and Alibaba. Their unique AI solutions suite, finely crafted by a team of 30 employees (with 18 dedicated to technical development), collaborates closely with Bielefeld University.
VisionAI's journey began under the name Recommedy, an online shop with a noble goal - to bridge the gap between customers and product manufacturers using product photos. In a strategic move earlier this year, it was rebranded as VisionAI, evolving into a comprehensive technology platform and bolstering its arsenal with a wealth of cutting-edge AI solutions tailored for online retailers.
Their impact has already reverberated across the e-commerce sphere, boasting partnerships with nearly 120 customers worldwide, including influential brands like New Balance and Alpha Industries. With sales totaling €1.5 million, VisionAI has become the game-changer these retailers were searching for.
Founder Melvin Schwarz elaborated, stating, "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. With our cross-selling tool, partner shops were able to increase their sales by more than 10 percent."