The edge computing technology developer has reportedly been purchased by Apple after raising less than $15m from backers including NGP Capital.
Consumer electronics producer Apple has acquired US-based artificial intelligence platform developer Xnor.ai for approximately $200m allowing NGP Capital, the venture capital firm spun off by smartphone maker Nokia to exit, GeekWire reported yesterday.
Founded in 2017, Xnor has developed technology that makes it possible to run machine learning and image recognition tools on low-power devices, removing the need to upload data to the cloud. It has also built a tool that allows developers to easily add AI functionality to apps.
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Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
