HyperVerge, a deep-learning startup from India, announced today that it has raised a million dollars in seed funding from several U.S. venture capital firms, including NEA, Milliways Ventures and Naya Ventures.
Founded by IITians and incubated in reputed Indian Intitute of Technology (IIT) Madras campus, Hyperverge is headquartered in Palo Alto, California. The startup is working on Computer Vision, Deep Learning, Image Recognition Engine, Vision stacks on cloud, PAAS .
HyperVerge uses the technology of deep-learning to analyze and organize photos across all devices. The fresh capital raised will enable HyperVerge to expand in the U.S. and position itself as a strong contender in the space of image recognition.
The company, founded in 2014, started as a small team of five undergraduate students from Indian Institute of Technology Madras, located in Chennai, India. During their time at the university, the team worked on several computer vision and machine-learning solutions for manufacturing automation and robotics applications. The group created the prototype for their cloud-based image recognition technology while at the college’s Incubation Cell. With advisors from MIT Media Labs and the IIT alumni community, the team has been able to attract multiple investors from the Silicon Valley.
The five co-founders of the startup are – Sai Venkatesh Ashokkumar, Praveen Kumar, Kishore Natarajan, Vignesh Krishnakumar and Kedar Kulkarni. Kedar Kulkarni graduated three years ago and is the CEO. Co-founders Vignesh Krishnakumar and Kishore Natarajan just graduated last year. They have turned down extraordinary job offers from multinational technology companies to run HyperVerge.
“Working with a budget of under $10,000 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. “With our core team and investors in place, we have our sights set on taking our technology to the next level. We believe that our image recognition engines will be the foundation for several breakthrough consumer applications in the near future.”
HyperVerge has developed patent-pending technology for organization of images by identification of people, places, scenes and events in images. Silver, the first upcoming smartphone application developed by the company helps users automatically organize their photos, eliminate poor quality photos and duplicates, and share their best photos. Optimized self-learning algorithms produce results that are real-time and highly accurate to ensure users find the photo(s) they are looking for within just a few seconds.
The startup’s upcoming mobile application (Silver) will help users automatically organize all the images on their 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. They also assist in identification and deletion of poor quality photos, duplicates and other unwanted photos.