Google Acquisition AIMatter Startup For Next Generation AI

shares |

AIMatter Startup
Computer vision, the branch of artificial intelligence or augmented reality (AI) that allows computers to view and process images as humans do.

The image is then used to help run the program, as the core of next generation technology is developed.

To help develop the technology, Google acquired AIMatter, a startup established in Belarus.

AIMatter has built a neural network-based AI platform and SDK to quickly detect and process images on mobile devices, and photo and video editing apps called Fabby.

Rumors of this deal have been suspended since May, and only officially closed on Thursday (17/08/2017). Fabby and Google have confirmed their second deal to TechCrunch.

Fabby's sales requirement was not disclosed by the company. However, it is known that Fabby has been downloaded for over 2 million times and will continue to grow. Some AIMatter employees will be part of Google.

AIMatter also has employees working in Minsk, Bay Area, and Zurich. But it is unclear whether the staff will remain there or move to another place, or even come trafficked to Google.

Fabby has collected approximately 2 million funds with supporters including Haxus, an investment company focused on supporting AI startups.

The funding was also obtained from Yuri Melnichek, AIMatter's co-founder and chairman but is now described as an investor and corporate adviser as a former Google employee.

The position of AIMatter CEO is filled by Andrei Kulik, who plays a role in raising corporate funds.

Not yet known clearly where Google will apply the technology it acquired.

This technology giant has long observed how to engage in next generation social networking applications, not only to build an audience, but also to use it to build new boundaries in its advertising business.

Also Read:

Related Posts