By
Charlotte Newman
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The European Innovation Council (EIC) supports the German deep-tech company nyris with both funding and an investment of 5 million euros.
The decisive factor here is the recommendation of an independent jury. The experts rated nyris' AI-based visual search engine technology as disruptive with great market potential. Final negotiations between the Berlin and Düsseldorf based startup and the EU on the support measures are still pending.
The EIC is part of the EU's Horizon Europe framework program for research and innovation. As an innovation council, its task is to identify and support potentially groundbreaking or disruptive technologies. It has various funding instruments at its disposal for this purpose, including the EIC Accelerator, from which nyris also benefits. It is aimed primarily at small and medium-sized companies with "disruptive" innovations, as the EIC explains.
“We are extremely pleased that the jury has recognised the potential of our technology. ”
— Anna Lukasson-Herzig, CEO at nyris
According to CEO, Anna, using synthetic data to visually search for products such as spare parts is a unique approach. It will dramatically accelerate the software's adaptation in industries where real image data is still rare. More and more players and decision-makers are discovering the potential of our visual AI software - and we are still at day one.
About nyris GmbH
nyris GmbH offers a unique AI-based solution for spare parts and product recognition. It processes both real and synthetic data and delivers the most accurate search results in less than one second. Customers from industry or retail can access the technology as a software-as-a-service. Among them are IKEA, Bühler and DMG MORI.
