Singapore-based ViSenze, a provider of AI-based visual search and recognition tools for retailers, has announced its acquisition by Nasdaq-listed Rezolve AI, an AI-first conversational commerce and product discovery firm headquartered in London.
The transaction details remain undisclosed.
Rezolve’s ambitions and goals align closely with ViSenze’s, focusing on leading the retail sector through AI, innovation, and impact.
With this integration, all of ViSenze’s AI engineering staffers will join the global Rezolve team. The move will transform ViSenze’s Singapore base into Rezolve’s regional headquarters for APAC expansion, with future research and development initiatives planned.
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Oliver Tan, CEO and co-founder of ViSenze, said: “This acquisition marks a whole new chapter for ViSenze under Rezolve. We don’t aim small. Stay tuned for the big new things we’re working on.”
Founded in 2012, ViSenze develops “breakthrough” visual search capabilities for retail and introducing multimodal AI search to revolutionise online and in-store product discovery.
The firm’s solutions use deep learning and computer vision techniques to conduct image extraction and recognition, adaptive machine learning and dynamic contextual analysis, enabling shoppers to search and discover products easily on online platforms. It also recommends products based on shoppers’ product purchase behaviour and insights.
Since its inception, the company has raised US$34.5 million in funding from a slew of investors, such as 31VENTURES, Impossible Ventures, Rakuten Capital, SPH Ventures, WI Harper Group, UOB, Gobi Partners, Walden International, SPRING Singapore, Tembusu Partners, Global Brain, Innoven Capital, NUS Enterprise, and SEED Venture Capital.
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