Cyreen receives seven-figure sum

With its technology, the start-up wants to revolutionize supermarket advertising. Cyreen plans to use the capital from the financing round to expand its team and software.

Cyreen has closed a seven-figure financing round. BMH, the medium-sized investment and venture capital company of the state of Hesse, took a stake in the Wiesbaden-based start-up, and a number of business angels also invested.

Herbert Boos, Benedict Boos, Ciril Hofmann and Davide Scheidegger founded Cyreen in 2017. The startup has developed a tool to measure advertising impact in brick-and-mortar retail. Artificial intelligence can measure the success of on-screen advertising in supermarkets based on the number of products purchased. Called "C.A.P.," the technology improves sales rates by up to 375 percent, according to the startup.

The data obtained enables retailers to better understand the buying behavior of their customers - something that has long been possible in online retail. They can also receive additional payments from advertising partners. The tool makes it possible to determine more precisely how many customers have seen an advertisement, and they can get paid for the additional "ad impressions."

"C.A.P. is an extremely innovative tool for retailers with a lot of development potential," says BMH investment director Helge Haase. "That's why we are happy to support the company in its further growth steps." With the capital from the financing round, Cyreen wants to expand its team and further develop its software.