Big deal: Twitter favours Magic Pony Technology

Imperial Create Lab, a partnership between Imperial College London and its commercialisation affiliate Imperial Innovations, has exited UK-based machine learning startup Magic Pony Technology following its acquisition by social network Twitter. Terms of the deal have not been confirmed officially, though sources told news publication TechCrunch that the transaction was worth $150m in cash. Magic Pony’s shareholders included Octopus Investments, Entrepreneur First, Balderton Capital and 7 Percent, according to deals database PitchBook. They had provided an undisclosed amount of funding over two rounds in 2014 and June 2016. Founded in 2014, Magic Pony has developed technology to enhance pictures and videos. The system uses machine learning and neural networks to improve images with data that may not be contained in the photograph itself but can be extracted from similar images.…


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