Six Important Things To Consider Before Setting Up An International Business
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The creators of the photo app Prisma, which went viral back in 2016 for making images look like works of art, are quitting launch an AI startup.
Prisma CEO Alexey Moiseenkov and CMO Aram Hardy have raised $1 million in seed funding for Capture Technologies from investors, including Kleiner, Perkins, Caufield, and Byers, and Russia’s Group.
Other backers include Social Capital, Dream Machine VC, and Paul Heydon. Additionally, Josh Elman from Greylock Partners will join Capture as an advisor.
“Prisma is doing really great, it even became profitable recently,” said Hardy. The app has several million monthly active users, he said, but declined to be more specific about user numbers.
Capture Technologies, which is based in California and Moscow, is looking to launch its social app in the final three months of 2018. Its goal, as stated on Capture Technologies’ website, “is to bring an absolutely new and unique experience to how people interact with each other,” using AI.
Hardy says they had the luxury of being able to choose their seed investors, after getting a warmer reception for Capture than they’d perhaps expected — thinking it might be tough to raise funding for a new social app given how that very crowded space has also been monopolized by a handful of major platforms
“The app itself is going to connect people via different contexts,” said Hardy. “The context can be anything, either a song you’ve just listened to, or a movie you’ve just watched, or an event you’ve just attended, or a cat which just crossed the street in front of you.”
Exactly how the app will work is yet to be revealed, but Hardy confirmed that “camera has a special place within the Capture app.”