Anyline, an Austrian deep learning startup, has received an investment of €500,000 from ARM’s Herman Hauser.
According to the startup, with Hauser’s small investment in tow it will begin seeking a larger Series A round next year. It previously raised €1.5 million in February of this year while Hauser’s ARM was of course sold to Japan’s Softbank in July for €29 billion.
Anyline builds mobile text and optical character recognition (OCR) for software developers. The tech uses a phone’s camera to scan and recognise text or codes. It’s currently used in a number of different applications like voucher codes and ID verification.
The startup, founded in 2013, is headquartered in Vienna with a team in Wattens. It also plans to open a sales office in London in September at WeWork to build up its client base, which includes Red Bull and Carlsberg.
The investment will allow further development of OCR as the startup to plans to move more into augmented reality with AR SDKs and integration with Microsoft HoloLens and other smart glass products through its partnerships with Konica Minolta and Wikitude.
Photo L-R: Jakob Hofer, Daniel Albertini, Lukas Kinigadner, Hermann Hauser, David Dengg