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HyperVerge, Deep-Learning Based Image Recognition Startup, Raises $1 Mn From NEA, Milliways & Naya Ventures

HyperVerge, Deep-Learning Based Image Recognition Startup, Raises $1 Mn From NEA, Milliways & Naya Ventures

Chennai & CA-based HyperVerge, a deep-learning startup for image analysis and processing engines has raised about $1 Mn in seed round funding from New Enterprise Associates, Milliways Ventures and Naya Ventures.

With this funding, the company plans to rapidly grow their technology and platform on a global scale. Also, Dayakar Puskoor of Naya Ventures has joined HyperVerge’s board.

Founded in 2014 by Kedar Kulkarni, HyperVerge uses cloud-based image recognition technology to analyze and organize photos across all devices.

On this development, Kedar Kulkarni, CEO and co-founder of HyperVerge said, “Working with a budget of under 6 lakhs, we were able to create classifiers for identification of people, scenes, events and unique patterns in images.”

The startup will soon be launching a mobile application called Silver, which will allow users to automatically organize all the images on the phone. It utilizes deep-learning and convolutional neural networks to recognize, classify and process vast amounts of image data.

These systems accurately recognize faces, scenes, documents, business cards and other patterns within images to categorize photo albums based on context. Besides, it could also identify and delete poor quality photos, duplicates and other unwanted photos.

“With our core team and investors in place, we believe that our image recognition technology can be the foundation for several breakthrough consumer applications in the near future.” said Kedar.

Kittu Kolluri, General Partner at NEA also commented on this development. He said, “The technology developed by HyperVerge can span out as useful applications for consumers, enterprises and developers.”

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