For years US tech empire Apple has always remembered to praise its internal tech developments, as we all know how awesome the brand is and everything. However, when it comes to Apple reporting tech upgrades through purchase, it seems as if things tend to be kept a little close to the chest.
With already 4 big purchases of Israeli companies behind them, Apple added to the list by acquiring an Israeli startup called Camerai well over a year and a half ago, in a deal reported to be in the several tens of millions of dollars range, although the official sum is yet to be known, as reported by Calcalist financial website on Thursday.
The Israeli startup which develops advanced camera technology was already hot on Apple’s radar due to Camerai’s technology being a significantly key integration into Apple’s iPhone camera, focusing on augmented reality, according to Calcalist. The Israeli startup leverages AI and computer vision technologies for advanced videography capabilities, better reading the videoed subject and environment. This enables high quality Augmented Reality graphics to create real-time visual masterpieces. Furthermore, the company’s platform simplified integration, allowing software developers access to the technology without the need for writing code, Calcalist reports.
Camerai was founded in 2014, originally named Tipit, by Moty Kosharovsky, Aaron Wetzler, Yehonatan Rimon, and Erez Tal. At the time of sale to Apple, the whole 13 employee team was integrated into Apple’s Israel-based development center, which employs over 1,000 workers. Reported by Calcalist, the company barely raised any funds before the big money exit, only securing $3 million in total investments over its life span.