Aus visual search start-up goes global
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Adelaide based start-up Thereitis.com has raised the funds to commercialise its patented user interface technology.
Thereitis says its “visual search” methodology provides a faster, easier way for online customers to sift through visual data, from shoes to friends to music.
It has also secured a Commercialisation Australia Proof of Concept Grant of $AU250,000 and conducted successful beta trials with online retailers. When the company’s beta period wraps up in June, it will be licensing the technology to ecommerce partners globally.
The technology is currently in action in a global shopping portal, using iOS and Android applications to manage their data and shop, complemented by a Facebook application, ‘Spaces’.
“An angel round of $AU2,000,000 was an excellent result for the company and gives us a significant runway to take our technology to a global market,” said CEO Guy Sewell.
Sewell said that the company has aggressive growth plans for both business and consumer product offerings.
“The technology takes advantage of the brain’s innate ability to search for an item amongst hundreds of other choices – we replicate what you do hundreds of times a day subconsciously and leverage that power online,” Sewell said.
The company plans to keep the R&D team based in Adelaide and expand its sales reach globally targeting the US and UK, closely followed by Europe and Asia-Pac. ®
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