Austrian Round2 Capital has announced its further investment in Phyron, expanding its existing relationship with the company. Phyron has closed its Series B round at €10 million, which was led by Round2 Capital and joined by the existing shareholders and Peter Vardy.
About Phyron
- Founded in 2019, Swedish video tech pioneer Phyron is developing the world’s first fully automated AI-enhanced video solution. Using Artificial Intelligence, the software identifies the best and most relevant selling points of each individual car and combines still images from a data feed, facts and figures about the car, brand imagery and retailer services into relevant, highly effective videos.
- Phyron currently counts over 3,000 car dealers as customers across 30 countries. Just last month the company set up new offices in Brighton, UK, in addition to its existing HQ in Stockholm, Sweden.
Investment details
Round2 Capital provided both an additional revenue-based financing investment as well as an equity investment as part of the company’s Series B. The automotive retail giant Peter Vardy and existing shareholders also joined the funding round.
“Since we met the Phyron team and decided to make our first investment, the company’s development has been very positive. We value the relationship we have built and look forward to supporting the next phase of the company’s growth. We believe that Phyron is planning the right next steps to take advantage of opportunities in a dynamic market environment,”
Jan Hillered, co-founder and managing partner of Round2 Capital, commented on the investment.
This is not the first time the fund invested in the company. In June 2023, Round2 made an undisclosed seven-figure investment in the Stockholm-based AI-powered video content creation platform. At the time, the investment was directed towards technology development and team growth.
The Series B funding will enable Phyron to accelerate development of its AI and automation technology, grow the team with top industry talent, and expand its operations in new markets – namely the United States.
