Israeli AI tech firm Syte raises $21.5 mln

Israeli artificial intelligence (AI) technology firm Syte said it raised $21.5 million in a private funding round, bringing funds raised to date to $30 million.

JERUSALEM, Sept 10 (Reuters) - Israeli artificial intelligence (AI) technology firm Syte said it raised $21.5 million in a private funding round, bringing funds raised to date to $30 million.

The round was led by Viola Ventures, with participation from Storm Ventures, Commerce Ventures, Axess Ventures and previous investors.

Syte said the funds would accelerate the global expansion of its visual AI products, which are mainly targeted towards the retail industry. The technology allows shoppers to take photos of items and search for similar products on a retailer's site.

Its clients includes Farfetch, Marks & Spencer, boohoo, and Tommy Hilfger.

(Reporting by Steven Scheer)

((steven.scheer@thomsonreuters.com; +972 2 632 2210; Reuters Messaging: steven.scheer.thomsonreuters.com@reuters.net; Twitter: @StevenMScheer))

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