Deeptech Startup Spyne Acquires Travographer For an Undisclosed Amount
With this acquisition, Spyne expands its presence in the real estate market
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Deeptech startup Spyne on Wednesday announced to have acquired Travographer, an on-demand photography service provider company at an undisclosed amount. As part of the acquisition, the company has also onboarded over 20 of its employees including the founding team. With this acquisition, Spyne expands its presence in the real estate market. Spyne has also announced its fresh plans to hire over 100 employees to strengthen its team in the next quarter. The recruitment is focused on talents in technology, marketing, and the sales domain. The developments will help Sypne to augment its growth plans and further scale its operations.
"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 in its business. 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," said Sanjay Kumar, co-founder and CEO, Spyne.
"We truly believe that this was the right time to join hands and generate synergies to add real value to the market that is by reducing TAT by 90 per cent and scaling operations across multiple locations using tech. With this merger, we are 100 per cent 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," said Kapil Arora, co-founder and CEO, Travographer,
Founded in 2018 by Sanjay Kumar and Deepti Prasad, Spyne develops 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 500 times faster studio-finish images and help them scale operations in real-time. At present, the brand is currently serving over 80 customers including Amazon India, Flipkart, Karvi, OLACars, SellAnyCar, Udaan, etc. across 15-plus 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.