INVESTMENT IN DAYTA AI WITH ITVF

Transcend Capital Partners is proud to announce our recent investment in Dayta AI, a video analytics Saas provider that analyzes shop layout and customer behavior to enable brick-and-mortar retailers to engage more optimally with in-store shoppers.  

 

Transcend co-led Dayta AI’s Series A funding round alongside VU Venture Partners, with participation from other venture capital and strategic investors including Transcend’s co-investment partner Innovation and Technology Venture Fund (ITVF) under the Innovation and Technology Commission of the Hong Kong Special Administrative Region Government, PropTech platform BetaBox Ventures, HKUST Entrepreneurship Fund and existing investors like Swire Properties New Ventures.  

 

Seasonality of retail sales has always been a pain point that leads to short-lived operations of retail stores. With the application of AI technology evolving rapidly in recent years, Dayta AI saw a huge potential for data use in the retail industry to empower retailers to better understand customer engagement and make corresponding decisions to improve operations and sales.  

 

Established in 2018, Dayta AI is a Retail Analytics SaaS company that leverages existing cameras to acquire visitors’ behavioral data and generate actionable insights. Their product, Cyclops, can be readily deployed in hundreds of stores within one week due to its software-based nature, versus the one-year installation that a hardware solution would normally require, thereby reducing retailers’ cost outlay. 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 across Hong Kong and the Asia Pacific region.  

 

Analysing more than 150,000 videos per day, Cyclops can connect most video cameras to acquire, evaluate and interpret in-store data in real-time. With the newly released v4 of Cyclops, it 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. This represented a significant improvement in AI modules and UIUX.

 

The funding from this round will be used to further optimise the cloud infrastructure and develop new AI models, as well as fuel their overseas expansion into the US and EU markets. We are beyond excited to be working with Dayta AI to empower retailers with the use of data.