Slyce, the Canadian visual search startup backed by $27 million

A worthy competitor for Amazon’s Firefly emerges from the North


E-commerce has never been easier in our day and age. Exponential advancements in technology coupled with the increasing affordability of ever-changing software and hardware make it no surprise that visual search platforms are becoming the hot new tool for consumerism.

You've probably heard about Amazon’s “Firefly” — the e-commerce giant’s newest technology that offers immediate purchasing power by scanning and recognizing products, shows, and songs, and providing an instant link to its product page on Amazon. And of course, Firefly is exclusively available on the company’s first cellular device, the Fire Phone, which just launched this month (June 2014). Talk about full-scale vertical integration.

But Amazon is not the only player in this new game; meet Slyce, a Calgary-based startup that uses advanced image recognition technology in partnership with retail brands to essentially provide the same instant-shopping service as Firefly — without being tied down to Amazon’s database. All things aside, the fact that a small Canadian team is a worthy competitor to a multi-national corporation is an amazing feat!

So how did they do it? Well, let’s not call it “David takes on Goliath” just yet — in April 2014, Slyce announced its Amalgamation Agreement with Oculus Ventures (the geniuses behind the Oculus Rift) to continue its current operations as a wholly-owned subsidary of Oculus. With these two powerhouses of innovation (and ridiculous venture capital) joining forces, who knows where the future of technology, usability, and e-commerce will take us?

One thing is for sure — you’ll never have to sift endlessly through pages of search results for “red dress from the Oscars” again.

“The ability to effectively make the entire real-world a showroom has become a compelling proposition for retailers. The key benefit of the Slyce technology… is it allows for the one click identification of products that are not only inside of the package but for those products that are unpackaged such as a women’s handbag, dress or home decor.”
— Mark Elfenbein, President of Slyce
Snap, search, select.

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