HyperVerge Raises Seed Funding Worth Mn From NEA, Others
Deep learning startup by IIT-Madras graduates, HyperVerge has received R6.52 Cr ($ 1 Mn) seed funding from NEA, Milliways Ventures and Naya Ventures to expand into the US and position itself as a strong contender in the space of image recognition.
The funding is primarily to build their upcoming mobile application Silver and expand their technical team. Post deal, Dayakar Puskoor from Naya Ventures has also joined the Board.
Founded in 2014 in Chennai by small team of undergraduate students from IIT Madras, HyperVerge uses the technology of deep-learning to analyze and organize photos across all devices.
The company has developed patent-pending technology for organisation of images by identification of people, places, scenes and events in images. Silver, the first smartphone application developed by the company, helps users automatically organise their photos, eliminate poor quality photos and duplicates, and share their best photos.
HyperVerge is looking to tap into the Bay Area ecosystem for strategic partnerships and rapid user growth in the US market.
Source: HyperVerge Raises Seed Funding Worth Mn From NEA, Others
Via: Google Alert for Deep Learning