Viktor Prokopenya and Said Gutseriev Invest $5 Million in Banuba Start-Up
Larnabel Ventures, an investment company focused on IT, and Viktor Prokopenya’s VP Capital, a global technology-oriented investment vehicle, reported today their joint investment in Banuba. The start-up developing mobile apps enabled by AR technologies received $5 million from the investors.
Banuba applies the latest machine learning algorithms to modify real-life objects. The neural networks identify faces and gestures which are then modified with video filters. Such solutions can be used to track emotions, educate and can enable entertaining mobile apps. Banuba is planning to put these solutions into life in the first quarter of 2017 when it releases its first mobile app.
Viktor Prokopenya, in turn, said, "Banuba takes the lead in the sectors of augmented reality and artificial intelligence. During the previous year, the start-up managed to create cutting-edge mobile algorithms. Mobile capabilities are frequently limited by devices, thus, hardware development and augmented reality technologies together are quite promising spheres. As the powers of mobile devices advance, Banuba will be able to deliver more state-of-the-art solutions."
According to Said Gutseriev, Larnabel Ventures, "Augmented reality is yet to be explored, and Banuba’s team are among those who are pioneers in the sector. It’s very exciting for us to provide resources for them to go forward."
Vadim Nekhai, CEO of Banuba Development, underlined: "As an ambitious start-up, Banuba is very excited to be supported by VP Capital and Larnabel Enterprises. They will give us a strong foundation to develop augmented reality."
About VP Capital
Founded by Viktor Prokopenya, VP Capital is a global investment vehicle focused on the technology sector. Past investments include Viaden Media, a leading online mobile app developer founded by Mr. Prokopenya and sold in 2012, and exp(capital), a market making company that Mr. Prokopenya founded in 2012. For more information, please visit https://vpcapital.com.
About Larnabel Ventures
Larnabel Ventures invests in the information technology sector.
Founded in 2016, Banuba develops technologies for augmented reality-enabled mobile applications. The company is based in Hong Kong and has a development subsidiary in Belarus, and employs over 30 AI/AR engineers. Banuba has a number of pending US patents and plans to launch its first mobile application in the first quarter of 2017.
For more information, please contact: [email protected].