Seechange

About Seechange

SeeChange Technologies provides a visual AI platform, SeeWare®, targeting the global retail sector to address significant industry challenges like theft, which has escalated into a multi-billion dollar problem. The company was established by Jason Souloglou in 2018 while incubated within Arm Holdings, a major player in IP, and officially spun out as an independent entity in 2021 with initial seed funding from Crane Venture Partners. This strategic move allowed SeeChange to focus its efforts on developing and scaling its AI technology for real-world applications. Souloglou, as co-founder and CEO, leads the company, which is headquartered in Manchester, UK.

The core of SeeChange's business is the SeeWare® platform, a system that integrates with a retailer's existing hardware, such as in-store CCTV cameras and point-of-sale systems. This platform uses computer vision and machine learning to analyze video streams in real-time. Its functionalities include enhancing self-checkout processes by automatically recognizing items without barcodes like fresh produce, preemptively managing stock levels, reducing theft, and improving store safety for both customers and employees. By processing video data on-site, the system is designed for easy deployment and scalability across a large retail enterprise. The business model centers on providing this technology as a solution to retailers, who benefit from reduced losses, streamlined operations, and improved customer experiences. SeeChange generates revenue through partnerships and commercial deployments of its SeeWare® platform.

A significant milestone for the company was securing an £8M ($10M) seed extension funding round in November 2023, led by Crane Venture Partners and Triple Point Ventures, with participation from new investors like Runa Capital and True. This capital infusion is aimed at accelerating commercial deployments and expanding its support teams. SeeChange has also formed key strategic partnerships to integrate its technology. A notable collaboration is with Diebold Nixdorf, a global leader in retail technology, to create AI-powered self-checkout solutions. This partnership integrates SeeWare® into Diebold Nixdorf's Vynamic® Smart Vision self-checkout systems to simplify transactions and reduce retailer losses. Another partnership with Vigilant Applications combines SeeChange's visual AI with Vigilant's retail software to enhance real-time profit protection and operational management.