Connect with us

News

Facebook Acquires Scape Technologies, A London Based Startup Using AI To Find Location

Published

on

Facebook has acquired new tools for its augmented reality glasses. TechCrunch has discovered a filing indicating that the social media giant has acquired Scape Technologies, a London based startup that uses computer vision to determine your locations without the need for GPS. The cloud-based “Visual Positioning Service” translates images into 3D maps which deliver precise outdoor location across entire cities.

The full terms of the detail are yet unknown by a Companies House update reveals that Facebook Inc. owns majority control of the company which is more than 75%. Scope’s previous venture capital representative has resigned and replaced by two Facebook executives. The deal is estimated to be around $40 million. The list of Scope backers includes names like Entrepreneur First (EF), LocalGlobe, Mosaic Ventures, and Fly Ventures.

Scope Technologies was founded in 2017 developing a “Visual Positioning Service” based on computer vision and allowed developers to build apps that required location accuracy beyond the capabilities of GPS. It initially targeted augmented reality apps but soon realized it has the potential to be used in power applications in mobility, logistics, and robotics. Scope essentially wanted to enable any machine equipped with a camera to understand its surroundings.

Scape CEO and co-founder Edward Miller previously described the company’s “Vision Engine” as a large-scale mapping pipeline that can create 3D maps from ordinary images and videos. Camera devices can then connect with the Vision Engine using the Visual Positioning Service API to determine its exact location with greater precision than GPS.

After its acquisition by Facebook, it is expected to bring more value to the next generation platforms, including VR and AR. A Facebook spokesperson provided the following statement: “We acquire smaller tech companies from time to time. We don’t always discuss our plans.”

Ben is a digital entrepreneur and founder of OnTechEdge.com. He is a technology passionate who loves sharing his ideas on smartphones and gadgets. He looks forward to imparting the spectrum of his insight and verdicts on the ‘Technology-driven world’ of today. He plans to take OntechEdge forward with the consistent support from you readers, friends and family! Ben Kemp is also author of the book "How To Tell a Story On Social Media in 2020". Direct email address: [email protected]

Trending