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Release: Mobile Acuity Closes New Funding Round

Investment to be used to advance mobile 3-D recognition

Edinburgh, Scotland, October 27, 2009: Mobile Acuity, the global leader in mobile visual search technology, announces the successful closing of a further round of financing. The funds raised are a combination of a SMART investment from the Scottish government and additional investment from the company’s current investors.

These funds will be used to further the development of Mobile Acuity’s 3-D recognition technology, an extension of their existing 2D recognition capabilities. This will enable a number of important commercial applications in the areas of visual search, mobile marketing, and mobile commerce.

“3-D recognition in the mobile environment is a very tough problem to crack, and we believe that we are uniquely qualified to develop products in this area,” said Anthony Ashbrook, founder and CEO of Mobile Acuity. “It is also gratifying to have that belief validated by the SMART organization in the form of new investment.”

SMART grants are government investment funds that are targeted to help companies develop patentable new technologies. In order to qualify for a SMART investment, both the company as well as their technology has to undergo a rigorous examination and evaluation process by acknowledged industry experts. Investments are made only after these experts conclude that the company has the technical capability to successfully carry out the proposed development, that the results will be patentable, and that the area of research could lead to commercially viable products.

Mobile Acuity has already developed a reputation for innovation by pioneering the field of Mobile Visual Interactivity. Over the past 24 months, the mobile marketing industry has incorporated various mobile visual technologies from Mobile Acuity – such as Image Zoning, Face Finder, and Colour ID – in a variety of mobile campaigns. These campaigns have won many awards, including “Best Creativity in Mobile Marketing” and ”Most Innovative Use of Technology in Mobile Marketing” at the MobileMarketing Awards 2008 and “Best In Show” at the OMMA Awards 2008.

“Our current visual interactivity products have been very well received by the mobile marketing industry, and we continue to work with leading agencies to build cutting edge campaigns for innovative brands that want to build engagement with their consumers, said Chris Wade, executive chairman of Mobile Acuity. “And now with this new round of funding, we have ensured our ability to develop the technology that will power the next generation of innovative mobile services.”

About Mobile Visual Search
Mobile Visual Search is the technology that powers mobile applications capable of identifying objects using images captured by the phone’s camera. Examples of this could include:
• identifying a product in a store to start a price comparison search
• identifying the make and model of a car as part of a mobile marketing
campaign
• identifying a street sign to aid in determining location • identifying an everyday object to receive, for example, the Wikipedia
information
• identifying a store logo to get information on current promotions
• identifying an historical landmark to receive additional information

The technology to do this is just being developed, and is greatly influenced by the quality of the camera in the phone, the processing power of the phone, and proprietary algorithms used for the analysis and identification process.

About Mobile Acuity

Mobile Acuity is a technology company enabling Mobile Visual Search applications for retailers and interactive campaigns using Visual InteractivityTM for brands and agencies. The company was incorporated in January 2006 and has received venture capital from investors including Imprimatur Capital and Scottish Enterprise. The company is a spin-out of the University of Edinburgh, the leading UK University in Computer Science and Informatics.
In addition to their industry leading image recognition capability, Mobile Acuity’s Visual InteractivityTM technologies include many other features.
• Image Zoning determines which section of an image the consumer is pointing at and returns an appropriate response.
• Colour ID analyses the dominant colours present in an image and uses these to create a customized response.
• Virtual Blue-screening can accurately extract the foreground of an image and reuse this within the response returned to the user
• Face Finder can accurately extract faces from an image and reuse these within the response returned to the user

Press Contacts
+44 (0)131 668 6908
press@mobileacuity.com


17.11.2009   
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