The News Scroll 29 March 2017  Last Updated at 9:36 pm

Venture Catalysts sells entire stake in Siftr Labs to APUS

Venture Catalysts sells entire stake in Siftr Labs to APUS

New Delhi, Mar 29 Investment firm Venture Catalysts today announced exit from photo-curation platform Siftr Labs by selling entire stake to China based APUS Group.

"Venture Catalysts...Has successfully exited the photo- curation platform (Siftr Labs)," Venture Catalysts said in a statement.

APUS Group has acquired Venture Catalysts-backed Siftr Labs for an undisclosed amount.

"This deal has also hinted towards continued interest of global players in building their arsenal of machine learning technologies, and has marked the beginning of sustained Chinese tech acquisitions on Indian soil," Venture Catalysts Co-founder Apoorv Ranjan Sharma said.

Siftr Labs is a photo-curation platform which has developed a proprietary technology that can perform multiple tasks including object identification, facial recognition, age and gender detection, as well as perceiving photo genres with an unrivalled precision.

Venture Catalysts had invested USD 1.5 lakh in Siftr in January 2016.

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds.
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