National, June 01st, 2022: Spyne, a Deep Tech startup helping businesses and marketplaces create high-quality product images and videos at scale with AI, has acquired Travographer, an on-demand photography service provider company at an undisclosed amount. As part of this acquisition, the company has also onboarded 20+ of its employees including the founding team. With this acquisition, Spyne expands its presence in the real estate market. In another development, Spyne has also announced its fresh plans to hire over 100 employees to strengthen its team in the next quarter. The recruitment is focussed for talents in technology, marketing, and sales domain. The developments will help Sypne to augment its growth plans and further scale its operations.
Founded in Mar (2017), Travographer is a leading photography service provider in the real estate sector across Globe. It has built a strong community of over 10,000 photographers and has helped them thrive and earn through their passion. Travographer has renowned brands such as OYO, Belvilla, Makemytrip,Go ibibo, Stanza Living, Zolo Stays, Fab Hotels, Lemon Tree hotels, Club Mahindra, Sterling Holidays, Taj Hotels among others. The Travographer photographers, till date, have captured over 35 million photographs across 100+ countries. The acquisition comes along with Spyne’s broader plans to intensify its business and team in India. Spyne welcomes Co-founder and CEO of Travographer – Kapil Arora as Head of Business and Co-founder and COO of Travographer – Deepak Bansal as Head of Customer Success.
Speaking on the acquisition, Sanjay Kumar, Co-founder and CEO at Spyne, said, “Travographer has been leading in the real estate sector. The team brings years of expertise that will contribute to Spyne’s larger plans to thrive its business. We whole-heartedly welcome the team to Spyne. By getting Travographer’s team and experience, we are hoping to strengthen our services and increase value for the customers. This acquisition has further strengthened our business commitments. As our next step, we now have plans to launch the AI-App based shoot offerings in the real estate sector. This move expedites our growth plan to launch our specialised tech products across different industries, after Automobiles, Food and Fashion.”
Talking about the hiring plans, Deepti Prasad, Co-founder, Spyne said, “To move forward with our growth plan, we intend to recruit 100+ people in the next one quarter. The new talent will be hired in the AI, Tech, Product, Marketing, and Sales departments. We are currently focused on our global expansion including the US market and hence have been focusing on hiring the right talent for the next phase of growth. We are also setting up a state-of-the-art Computer Vision lab for deeper R&D in space and further intend to expand our technological horizons into the field of AR / VR to build products for Metaverse and Omniverse.”
Speaking on the acquisition, Kapil Arora, Co-founder and CEO at Travographer, said, “Our expertise in the real-estate industry perfectly aligns with Spyne’s vision and product of taking photography at scale using mobile app in this sector. We truly believe that this was the right time to join hands and generate synergies to add real value to the market i.e by reducing TAT by 90% and scaling operations across multiple locations using tech. With this merger, we are 100% sure that there is no other player in the industry at present with this kind of scale and features that the combined entity has today. Such expertise and industry knowledge has not only set us on the growth trajectory but will also help us compete with the new global entrants”.
Founded in 2018 by Sanjay Kumar and Deepti Prasad, Spyne develops 100% automatic, industry-first AI image processing products to help large e-commerce marketplaces in the automotive, fashion, and retail industry enhance the visual value of the images without a physical studio. The AI tech products enable businesses to create 500X faster studio-finish images and help them scale operations in real-time. At present, the brand is currently serving 80+ customers including Amazon India, Flipkart, Karvi, OLACars, SellAnyCar, Udaan, etc. across 15+ countries. The company has also recently launched its self-serve AI technology for the automotive industry and will further be replicating the model for the e-commerce and food industry in the upcoming months.
Spyne has recently raised a $7M in pre-series A funding round led by Accel, Storm Ventures, Smile Group, Pentathlon Ventures, Core91, and prominent founders/CXOs from leading Internet companies. The company has aggressive plans to expand its geographical presence and strengthen its business and teams to deliver the best-in-class experience with its highly tech-enabled platform.