In the recent past, Slyce, a Toronto-based company has been able to raise $10.5 million in funding so as to improve on its phenomenal platform. Slyce is well known for its shopping image recognition on slyce technology that enables users to see products that they would like to own whether on the streets, shoot them with their smartphone cameras and search on retail outlets that have synchronized their inventory with the technology.
Different with other similar technologies on the market, Slyce does not require that the photographed product be in its original package. This is because it has improved abilities, and it does not rely on only logo identification. The technology can identify products even when they are not in their original packaging because it tends to rely on the unique attributes of an item. This is because the company is looking into more than just offering the technology to retail outlets.
Slyce has been partnering with major retailers who include five of the top twenty retailers in the United States when measured by volume and sales so as to ensure that the technology exceeds its expectations. The company has in the recent past been exploring opportunities to start using image recognition for customers so that they can tag mobile gift registry items and receive coupons by using their mobile phones.
The company has combined an effective machine technology with a robust human crowd sourcing that has been very instrumental in changing the way people do shopping nowadays. When the technology is used, a lot of hassles that shoppers go through including having to visit the shopping location physically are done with. At the end of the day, the technology saves the shopper time and also gives them the freedom to spot an item they like and shop for it with just a few clicks on the phone.
When it comes to the retailer’s end, the technology has proved to be very effective when matters related to enabling the retailer know which products are moving well in the inventory are concerned. This is because, at the end of every day, it provides a comprehensive report of the product searches conducted that plays a very big role in the retailer identifying what products need to be added in the inventory.
The unique thing about Slyce is the fact that it exists as both a white label solution and an independent consumer app. It is also not confined to only the smartphone and users can use it on their desktops. It allows retailers to be always available at the consumer’s point of interest by enabling them do seamless shopping in an instant. With the technology, a consumer does not have to worry about how to make payment as it takes care of all those factors in a secure environment.