Madras spinout HyperVerge has secured seed funding from a range of venture capital firms to expand into the US.
HyperVerge, an image recognition spinout from Indian Institute of Technology Madras, has raised a $1m seed round from New Enterprise Associates, Milliways Ventures and Naya Ventures, Economic Times reported yesterday.
Spun out in 2014, HyperVerge exploits deep-learning technology to analyse the content of images and organise photos by people, location, scenes and events.
The technology was developed by the Computer Vision research group at Madras with a budget of less than $10,000.
The seed funding will support the company’s expansion…
