Slyce has recently raised up funding of $10.75 million by a group of investors led by Beacon Securities. Other companies in the group include Harrington Global, Salman Partners, and PI Financial. Slyce intends to add Amazon Flow inspired technology to its visual search technology. It is looking to partner with every other retailer so that customers and consumers can point, shoot and shop with the cameras on their smartphones.
For people that do not know about Amazon Flow, it is the app from the retailer which allows people to point their device at any item that they see in the real world and find the product on Amazon. With the use of this technology, more people are going to be able to experience the advantage that the Slyce software is going to offer customers. There are some limitations on the Amazon Flow app. For one thing, the product has to be in its original packaging before the app could work. The app needs the logo, OCR and other cues form the package. It is an unfortunate, but logical limitation. However, Slyce is working on a way to get through that limitation.
SLyce improves on what Amazon Flow is offering with its ability to provide the identification of the product from wherever they are. This is likely to drive more customers to make purchases due to the fact that they see products that they are very interested and yet seem very uncommon.
The fact that Slyce is partnering with a ton of major retailers so that customers will have the ability to buy almost anything from anywhere. This is going to be a very lucrative and innovative app for customers and retailers alike. Many people are going to find themselves satisfied with what they can find outside, and retailers are going to be satisfied with the increase in sales.