Segmentive, a Berlin and Mittweida, Germany-based deep-tech computer vision startup, closed a $2.4m seed funding round.
The round was led by Technologiegruenderfonds Sachsen (TGFS), an early-stage VC fund targeting high tech startups with strong growth potential.
The company intends to use the funds to accelerate the delivery of its multi-layer segmentation technology mobile prototype and to make key hires to support execution.
Led by Lutz Roellig, CEO, Segmentive is developing a new approach to mobile video segmentation. Its technology aims to overcome the limitations of conventional visual processing and mobile power by combining advanced online learning techniques with deep neural network algorithms. The technology is designed to be used by social media platforms looking for unique features to transport users to different worlds by changing their backgrounds. Segmentive has application with mobile phone manufacturers and tech companies looking to use computer vision to create new commercial applications.