Dayta AI Netted $5M in Latest Series A Round to Fuel Overseas Expansion

July 11, 2023 | | Portfolio
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Dayta AI is delighted to announce that they have raised $5 million in their latest Series A round. The new funding is co-led by Transcend Capital Partners and VU Venture Partners, and joined by other venture capital and strategic investors including Betabox Ventures, HKUST Entrepreneurship Fund, Māori Capital, Wings Capital Ventures and more.
Established in 2018, Dayta AI is a Retail Analytics SaaS company that leverages existing cameras to acquire visitors’ behavioural data and generate actionable insights. Their product, Cyclops, enables brick-and-mortar retailers to optimise their sales, traffic and operations under the aegis of Computer Vision and Business Intelligence. Their applications stretch across retail stores, shopping malls, supermarkets, airport lounges and restaurants, serving clients in Hong Kong and Asia Pacific region.
The fresh funds will be used to further optimise the cloud infrastructure and develop new AI models. "At Dayta, we pride ourselves on delivering innovative and practical AI solutions that help businesses thrive," said Patrick Tu, CEO and co-founder of Dayta AI. "As our client base expands, we shall constantly refine our offerings and provide unparalleled insights for our clients."
Dayta AI recently released the v4 of Cyclops, which represented a significant advancement in AI modules and UIUX. The latest version improved algorithm quantization, quality dataset expansion and infrastructure scalability to boost model performance and stability. It also entailed a streamlined general setup that expedites the onboarding process, a wider variety of data visualisation tools, and new functions such as workplaces, teams, touchpoints, data series and user access grant.
Another primary use of proceeds will be deployed in fueling overseas expansion. "Expanding into new markets is a crucial step in Dayta's growth strategy, and we are excited to take on the challenge of tapping into the US and EU markets after a successful campaign in South East Asia" said Tu. "As the AI industry blooms, we believe that our cutting-edge AI technology has the potential to revolutionise industries across the globe."