Banuba, a startup which develops technologies for augmented reality (AR) mobile apps, raised $5 million from investment companies Larnabel Ventures and VP Capital.
The firm’s technologies are based on machine learning algorithms capable of detecting and identifying objects, facial expressions and gestures in real time, and then modify and augment those features using filters and video effects.
Banuba expects to provide access to its technologies to third parties, with plans to launch its first app in Q1 2017.
Victor Prokopenya, founder of VC Capital, said Banuba developed innovative, fast-learning algorithms for mobile devices which are often constrained by relatively limited hardware.
He believes the firm “is in an excellent position to capitalise on the significant shifts underway in both mobile hardware technology and AR.”
Banuba was founded in 2016 and is headquartered in Hong Kong with a development subsidiary in Belarus. It employs over 30 artificial intelligence and AR engineers.