Machine learning-driven AR outfit Octi raises $7.5 million
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| Jul 16, 2018 | investment | Octi | $7.5m |
US-based augmented reality technology start-up Octi has raised $7.5 million in a seed funding round.
The company aims to use machine learning and computer vision to power its AR tech.
Its first app called Octi uses skeleton mapping and gesture detection tech to recognise the human body in the virtual space, without the aid off additional sensors.
It then overlays 3D effects on a person or space and reacts in real-time to changes in the person’s position or the environment.
Octi is eyeing up clients in the gaming, fitness and fashion industries.
Big vision
The start-up plans to use the investment to expand its team with computer vision scientists, researchers and machine learning engineers.
The investment round included Shasta Ventures, I2BF Ventures, Bold Capital Partners, Day One Ventures, Human Ventures, Live Nation and AB InBev.
Other investors were former Snap Inc VP or product Tom Conrad, WeWork’s Shiva Rajaraman, Adobe’s Scott Belsky, A&E Networks’ Abbe Raven, and Joshua Kushner.
On top of this, Octi has announced a partnership and strategic investment with the NFL Players Association via the latter's accelerator programme OneTeam Collective. Through this, users can make videos and interact with NFL player avatars through AR.
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