Looks like Facebook is on the roll in terms of acquiring AI-powered startups with the aim to further strengthen its AI proficiency in regions such as natural language processing (NLP), computer vision, and ‘deep learning’.
It’s clear that Facebook is exploring the U.K. to bring AI expertise and the acquisitions of the firms like NLP startup Bloosbury AI in 2018, and its recent acquisition of Scape Technologies, a British firm, which provides correct location positioning for augmented reality.
On the heels of these acquisitions, Facebook has clinched another startup called Deeptide Ltd., the firm behind Atlas ML, which is also the custodian of “Papers With Code,” the free and open resource for machine learning and code.
Facebook got the majority owner on 13th December 2019- a regulatory filing for the startup revealed. In addition, Atlas ML co-founder Robert Stojnic shared a post on Medium titled ‘Papers with Code Is Joining Facebook AI,” which hardly witnessed any attention except the Machine Learning section.
However, terms of the deal and amount of the deal were not made public by the social media giant. Yet, the possible amount can be about $40 million or so. Founded by Stojnic and Ross Taylor in 2018, the aim of Atlas ML was to “make Deeptide convenient to find and apply deep learning research”. Deeptide has been an alumni of Entrepreneur First (EF)-along with Bloomsbury, and Scape-and landed succeeding funding from Episode1 and Kindred Capital.
According to a Facebook spokesperson, it acquires small startups at regular intervals, and Facebook generally doesn’t reveal their plans. The acquisition of Scale’s looks like a giant made an excellent investment to start a new platform. It doesn’t matter where they will use Scape’s technology, but hopes are that Facebook will bring a new era of VR and AR with this deal.
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