Syte

Company Overview

Snapshot

Founded in May 2015 by Ofer Fryman, Idan Pinto, Dr. Helge Voss, and Lihi Pinto Fryman, Syte operates with 51–200 employees. The company has secured funding across 5 rounds from 15 investors, with Viola Ventures leading a Series B round in September 2019. In September 2021, Syte acquired Slyce to expand its North American footprint.

Business overview

Syte is a visual AI technology provider that leverages artificial intelligence to enhance the retail experience. The company supplies retailers with insights into shopper motivations, enabling them to deliver relevant products and improve site navigation, product discovery, and user experience. Syte's solutions are designed to engage and convert shoppers, serving the retail and e-commerce industries with its visual AI platform.

Strategic signal

In May 2025, Syte ceased operations, citing $11 million in debt and an inability to secure further investment. This development signals a significant challenge in the visual AI retail technology sector, highlighting the difficulties even established players face in maintaining funding and operational viability amidst market pressures.

Company Intelligence Q&A

What was a significant operational change for Syte in 2025?

In May 2025, Syte ceased to operate, citing $11 million in debt and an inability to raise further investment.

When did Syte acquire Slyce?

In September 2021, Syte acquired Slyce to expand its North American footprint.

Which investors participated in Syte's Series B funding round?

In September 2019, Syte secured Series B funding with participation from Viola Ventures and NHN ventures.

What was a key recognition for Syte in 2018?

In July 2018, Syte was named a Cool Vendor in AI for Retail by Gartner.

When did Syte raise its Series A funding?

In July 2017, Syte raised its Series A funding round with participation from Magma Venture Partners.