Facebook, the world’s largest social media giant is reported to have acquired a London based AI startup named Scape Technologies in Dec’2019. Financial details of the deal are yet to be disclosed, but trade analysts say that the Computer Vision Startup could have made a whopping $40 million with the deal.
Technically speaking, Scape Technologies offers a cloud-based “ Visual Engine” which can help build and refer 3D maps in IP storage- similar to that of Google Maps, but with a perception to weave a virtual world around its users to assist augmented reality apps.
As Scape Technologies Visual Engine uses “Visual Positioning Service” stored in the app instead of the regular GPS, its location track down is said to precise and far more superior than what is offered on performance scale by other tech service companies.
As the service is right now available only in London due to funds scarcity, the funding of Facebook (FB) might make the company expand its services to other parts of the world.
As investments in Artificial Intelligence are proving fruitful for companies many major companies such as Apple Inc, Google and now FB are showing a lot of interest in investing money on technology.
AI analysts say that Facebook is aiming to serve better to its users in this digital age and so might plan to implement techs related to machine learning in the field of administration, content monitoring and virtual assistants. So, Mark Zuckerberg’s company is planning to buy the already proven technologies owned by small companies rather than investing money and time in developing the tech.