Denmark-based, Danish machine learning start-up, Spektral has closed a deal on $2.8 million in funding. The funding was received by Silicon Valley investors and will be used to further innovate its cutting-edge machine learning technology. By combining the booming technologies such as machine learning and computer vision techniques, the company’s technology can visually manipulate all layers in a video and in real-time on a smartphone.
On the investment, Michael Buckley, Co-Founder Ocean Halo, Former VP at Facebook, Board of Directors Member at Spektral and investor:
Spektral’s technology is exciting in its current form, but what’s even more interesting is where it goes from here. Their algorithms, speed and the intersection of machine learning and spectral-graph theory could help define the next generation of video content creation
As the part of the deal, company appoints Danny Lange, VP of AI and Machine Learning at Unity Technologies, to Board of Directors.
Commenting on becoming the Board of Director, Danny said:
Spektral brings more to Machine Learning than meets the eye. This is the future of content creation. The team and its technology stand out in the way they can instantly mix realities on a mobile handset while maintaining exceptionally high image and video quality and finite detail. As Augmented Reality (AR) gains traction, Spektral is well-positioned to accelerate the popular adoption of AR applications in mixed reality scenarios
Based in Copenhagen, Denmark, Spektral has a team who have deep knowledge in the domain of machine learning, software engineering, and data science. They are committed to free creativity by giving people powerful tools to create immersive video content. The company’s technology is based on machine learning and computer vision techniques.
Commenting on the company, Jonas Pilgaard, CEO at Spektral, said:
I’m very happy about our team efforts in pivoting from the professional cutout market to a more consumer-oriented market where speed and ease of use are essential. Our goal is to supply millions of people with the possibility to create creative video content
Combining deep neural networks and spectral graph theory with the computing power of modern GPUs, the company’s engine can process images and video from the camera in real-time directly on the device.
This involves removing the background of video and photos along with higher quality and detail than many existing marketplace “green-screen” applications. The company is also working on a full body segmentation technology, that can project masks, animations and other people onto your body. This simply opens up for a whole new dimension of content creation where elements of gamification and storytelling can be unfolded.
On the development, Toke Jansen, CTO and Co-Founder at Spektral:
I’m extremely proud to see how far we have come with our innovative technology. Raising almost $3 million is a very unique thing for us, and I’m excited to see how far we can take this
The technology of the company is built on three pending patents that are fast, robust and brings great results. The company opens up a huge range of new possibilities for extremely creative video content creation. There are three things that matter to content creators: speed, ease of use and quality.
On ease of use, cutouts are rendered automatically and require little to no manipulation by users. And on quality, the company claims that their technology is robust and provides a finite detail than existing competitor products.
The company is expected to use the raised funds to enhance the development speed and to hire more employees in the domain of machine learning. Also, the company will focus on hiring employees for computer vision, software engineering, and product development.