Cortica Raises $6.4 Million
Founded in 2007, Cortica is a company that aims to revolutionize how computers understand images and video. The company has raised $6.4 million in a Series B round of funding led by previous investors Horizons Ventures with participation from Mail.ru and several angel investors. Cortica has raised a total of $18 million. Cortica was started by Yehoshua (Josh) Zeevi, Karina Odinaev, and Igal Raichelgauz.
Cortica’s Image2Text technology can process images based on their patterns and then can identify the images’ core concepts. Image2Text may not identify every concept, but it will never incorrectly identify one of them.
“The goal now is to distribute Cortica technology across multiple partners, whether those are leading publishers, leading manufacturers of devices, and so on,” stated Raichelgauz. The company is using the technology for in-image advertising. This technology is being used across hundreds of millions of images. The company’s headquarters are in New York City and they have an R&D center in Israel.