Nyris is a high performance visual product and object search engine for retail & industry
Please introduce yourself and your start-up nyris to our readers!
Nyris is a high performance visual product and object search engine for retail & industry. We enable companies to understand and process large amount of visual data super-fast.
The three main use cases our engine can be used in the retail domain are visual product search, visual recommendations and data quality assurance. Especially for big Marketplaces with a lot of customer or 3rd party created content search and data quality can be a real challenge. We enable companies to use latest image recognition technologies to tackle this challenge and significantly improve conversion and sales.
For the industry domain, our engine can be used to help identify spare parts or machines much faster, which directly helps technicians in the field to get their job done faster.
We recently also started to use our technology to recognize cars and car damages and are considering the insurance domain as well.
How did you get the idea to nyris?
The first idea for nyris was that too many customer are lost between product discovery and checkout. So, the journey from seeing something I like till finding and buying it is way too long. We wanted to significantly cut this journey and the best way to do it was by using image recognition for search.
Thereafter we discovered that the same technology can also be used in different domains, e.g. spare parts search.
How difficult was the start and what challenges you had to overcome?
It is very difficult to start a technology Start-up in Germany, probably whole Europe, as there is not enough venture capital for high risk, high tech companies. The problem we are trying to solve has not been solved by anyone yet, so lot of people are very sceptical. Luckily from the beginning we had the support from some great Business Angels and also big corporates like Google and Microsoft.
Who is your target audience?
Online retailers and marketplaces are our main target customers in the retail domain.
For the industry we focus on automobile and insurance right now.
What is the USP of your start-up?
We focus on 3 KPIs: Precision, Speed and Scalability, in which we can outperform the competition. And we want to make the integration of our recognition technology as easy as possible. As retailer, all you need for a start is to share a product data feed with us, that’s it.
Can you describe a typical workday of you?
There is no typical workday. The biggest challenge every day is to find and block time where you can work on bigger tasks. This time is hard to find between customer calls, customer meetings, investor calls, answering e-mails and the daily To-do’s and follow Ups on previous meetings. Especially in the beginning of your company you must cover a wide area of tasks like recruiting, sales, accounting investor relations etc., which do not directly correspond with product development. It’s never boring. And the days are long.
Where do you see yourself and your start-up nyris in five years?
When you see an advertisement for IBW Watson in five years, we want you to think of nyris and to know that we are faster, better, cheaper, easier to integrate and offer a much better customer service.
What 3 tips would you give other Start-up founders on the way?
Get out and talk to potential customers as soon as possible.
Make difficult decisions fast, don’t push them away.
Find a way to relax in your sparse free time. The stress level is extreme and you need to know how to deal with it.
More information you will find here
Thank you Markus Lukasson for the Interview
Statements of the author and the interviewee do not necessarily represent the editors and the publisher opinion again.