Scape Technologies, the London-based computer vision startup working on location accuracy beyond the capabilities of GPS, has been acquired by Facebook, according to a regulatory filing.
Full words of the lot remain as yet unknown, although a Fellowship House update reveals that Facebook Inc. now has majority control of the company( more than 75% ). Nonetheless by looking at other filings, including a recent share controversy, I understand the expenditure could be about $40 million.
Further filings show that Scape’s previous venture capital representatives have removed from the Scape board and is amended by replacing two Facebook executives.
Scape’s backers included Entrepreneur First( EF) — the startup is an alumni of the company builder program — along with LocalGlobe, Mosaic Ventures, and Fly Ventures.
Founded in 2017, Scape Technology was developing a “Visual Positioning Service” based on computer vision which lets developers build apps who are in need of point accuracy far beyond the capabilities of GPS alone.
The technology initially targeted augmented actuality apps, but too had the potential to be used to power works in mobility, logistics and robotics. More broadly, Scape wanted to enable any machine gave with a camera to understand its surroundings.
Scape CEO and co-founder Edward Miller previously described Scape’s “Vision Engine” as a large-scale mapping pipeline that creates 3D planneds from ordinary personas and video. Camera maneuvers can then query the Vision Engine expending the startup’s” Visual Positioning Service” API to determine their precise locale with far greater precision than GPS can ever provision. The Visual Positioning Service was made available to select developers via Scape’s SDK.
Meanwhile the acquisition by Facebook , no matter what form it makes, looks just like a good set given the U.S. company’s investment in next generation platforms, including VR and AR. It is also another — perhaps, fretting — example of U.S. tech business hoovering up U.K. machine learning and AI ability early.
More to follow as and when I learn more. I have contacted Facebook for observe and will inform if I discover back.
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