Capillary Technologies which serves the Cloud-based software Solutions to the companies to retailers has announced to have pumped $20 million over the past year from its existing investors, including Warburg Pincus and Sequoia Capital.
In a statement, the company said it wants to enhance its product range with these funds, powered by Artificial Intelligence and Machine Learning catering to Asia and other upcoming emerging markets. The company also plans to invest behind the newly launched consumer goods vertical with its industry-leading solutions.
Aneesh Reddy, co-founder and CEO, Capillary Technologies said, “More than 70% of these funds would be devoted to research and development powering all our products with AI. We’re also looking to further strengthen our presence in China and the Middle East, besides penetrating further into Southeast Asia. We will soon be opening our second office in China at Guangzhou and then another at Beijing later this year.”
The company said in its journey of less than 10 years, its solutions have been used by more than 300 leading brands across 25,000 stores in over 30 countries to enable seamless consumer experiences.