Angel investors have injected $2 million into a start-up spun out of Flinders University called Thereitis.com.
Thereitis.com is a newly developed visual-search technology based on a patented 3D-compression algorithm. It helps users to find what they need by presenting collections of data as icons in a 3D array organised around what it calls "axes of relevance".
It groups types of objects together in clusters, helping users to scan for what they want by focusing on areas and then refining their search until they see what they want.
"The technology takes advantage of the brain's innate ability to search for an item amongst hundreds of other choices — we replicate what you do hundreds of times a day subconsciously and leverage that power online," Sewell said in a statement. Thereitis.com said that this led to a significant reduction in search and find times.
The company has already received a Commercialisation Australia Proof of Concept grant of $250,000, and has conducted beta trials with online retailers. Sewell plans to use his new funding to take the company overseas.
"We have aggressive growth plans with both our business and consumer product offerings. When our beta period wraps up in June, we will be licensing our technology to e-commerce partners globally," he said.
"Operationally, we intend to keep our R&D team based in Adelaide, and expand our sales reach globally. Our priority markets are the US and UK, closely followed by Europe and Asia Pac."