India, Feb. 18 -- Bengaluru-based automotive SaaS startup Spyne has secured $16 Mn (around INR 131 Cr) in a Series A funding round led by Vertex Ventures, along with participation from existing investors like Accel, Storm Ventures and Alteria Capital.

The startup plans to deploy the fresh capital for expanding its presence in the US market, boosting technology infrastructure and developing GenAI-powered retail suite for automotive dealers.

"We are looking to set up a small focused team in the US which will target larger OEMs and dealership groups," Sanjay Varnwal, cofounder of Spyne, told Inc42.

Founded in 2020 by Varnwal and Deepti Prasad, Spyne offers AI-powered visual merchandising solutions for auto dealers. The startup has develop...