Spyne, a visual merchandising platform for the automotive industry, has raised US$16 million in a series A funding round.

Vertex Ventures led the round, which included participation from existing investors Accel, Storm Ventures, and Alteria Capital.

The company plans to use the funds to expand into global markets, including the United States, Europe, the Middle East, Africa, and Asia-Pacific.

Spyne aims to enhance its AI platform and increase its dealer network from 1,500 to over 20,000 locations.

The company intends to establish a team in the US to foster growth and build relationships with dealerships and marketplaces.