Most high-tech companies have realized the importance of visual search image recognition in terms of market performance. Many of them are trying to see if the image communication used by people can be tapped into visual search. On March 1, 2016, Slyce Inc. a prestigious visual search avenue publicized its financial results for its 4th quarter that ended on October 31, 2015.
Highlights of the year
On August 12, 2015, the partnership between Slyce and SHOES.COM, a prominent footwear dealer was announced. The ShOES.COM owns North American shoe dealers, which is comprised of OnlineShoes .com and SHOEme.ca. Slyce technology creates an amazing shopping experience for the clients shopping via SHOEme.Ca site.
Neiman Marcus started using Slyce image recognition technology across its product lines. Slyce publicized this new development on August 26, 2015. The Neiman’s app enables clients to snap 3D images of products such as women’s handbags, jewellery, shoes, and apparel as well as children items. Eventually, clients receive perfect matching items or those with similar features.
Urban Outfitters sealed a deal with Slyce on October 6, 2015. The deal was that Urban Fitters would use Slyce’s visual search technology to market its product.
Financial transactions update
Slyce canceled its short-form prospectus provision and embarked on close to $7 million private placement financing after signing an agreement with a top investor. The termination occurred on February 10, 2016. Slyce expected to get close to $5 million from the lead investor’s company.
The aim of Slyce in 2015 was to improve the efficiency of its products. The firm focused on creating systems that are simple to use. This goal was achieved by the expansion of automated product feeds as well as product packaging.
Universal Scanner technology was launched on October 5, 2015. The scanner enables retailers to identify a wide range of objects like the catalogues, flyers, physical objects, and all kinds of barcodes. The Scanner can be supported by both iOS and Android. Additionally, all detections are provided with a single camera interface.
Slyce deployed its Slyce Link technology that was being developed for more than a year on November 25, 2015. The link system creates a platform for shoppers to converse via the e-commerce news. The technology will help retailers to increase sales by availing similar products to shoppers.