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HyperVerge, a deep-learning start-up by IIT-Madras graduates, said it had raised $1 million seed funding NEA, Milliways Ventures and Naya Ventures. The funds would be utilised to expand operations into the US.
The expansion will be achieved through strategic partnerships and rapid user growth for their consumer application in the US and Indian markets.
The expansion will be achieved through strategic partnerships and rapid user growth for their consumer application in the US and Indian markets.
Dayakar Puskoor from Naya Ventures has joined the Board to mentor the team.
The company was founded in 2014, started as a student R&D group at IIT Madras and it developed several computer vision and machine-learning solutions for manufacturing automation.
The team started working on a prototype for their innovative cloud-based image recognition technology while at IIT Madras' Incubation Cell. They developed patent-pending technology for organisation of images by identification of people, places, scenes and events in images.
"Working with a budget of under Rs 6 lakh, we were able to create classifiers for identification of people, scenes, events and unique patterns in images", said Kedar Kulkarni, CEO and co-founder of HyperVerge.
Kittu Kolluri, General Partner at NEA said: "The technology developed by the company can span out as useful applications for consumers, enterprises and developers. We are thrilled to partner with HyperVerge to bring innovative deep-learning solutions to users and prospective partners."
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.
