Wednesday, February 12, 2020

Facebook buys start-up that uses AI vision to find location

Facebook buys start-up that uses AI vision to find location



Facebook buys start-up that uses AI vision to find location

Facebook has acquired Scape Technologies — a London-based computer vision start-up working on location accuracy beyond the capabilities of GPS.Full terms of the deal remain as yet unknown, although a Companies House update reveals that Facebook Inc now has majority control of the company (more than 75 per cent). “However by looking at other filings, including a recent share issue, I understand the price could be about $40 million,” TechCrunch reported on Saturday. The start-up’s cloud-based “Visual Positioning Service” translates images into 3D maps that deliver a precise outdoor location across entire cities.It is pertinent to note that it’s not yet clear what Facebook intends to do with Scape. But, the augmented reality (AR) glasses may be the best fit. Founded in 2017, Scape Technologies was developing a “Visual Positioning Service” based on computer vision which lets developers build apps that require location accuracy far beyond the capabilities of GPS alone.