INSUBCONTINENT EXCLUSIVE:
Scape Technologies, the London-based computer vision startup working on location accuracy beyond the capabilities of GPS, has been acquired
by Facebook, according to a regulatory filing.Full terms of the deal remain as yet unknown, although a Companies House update reveals that
now has majority control of the company (more than 75%)
However by looking at other filings, including a recent share issue, I understand the price could be about $40 million.Further filings show
and Fly Ventures.Noteworthy is that EF and Fly Ventures have both already had a joint exit to Facebook of sorts, when Bloomsbury AI was
GPS alone.The technology initially targeted augmented reality apps, but also had the potential to be used to power applications in mobility,
More broadly, Scape wanted to enable any machine equipped with a camera to understand its surroundings.Scape CEO and co-founder Edward
far greater precision than GPS can ever provide
