Management Takes Control Of Face Augmented Reality Experts, ...| MENAFN.COM

Thursday, 08 December 2022 01:46 GMT

Management Takes Control Of Face Augmented Reality Experts, Banuba


(MENAFN- ACCESSWIRE)

LONDON, UK / ACCESSWIRE / November 24, 2022 / The management of Banuba, an Artificial Intelligence (AI) camera software company that helps businesses build more immersive augmented realities, has bought out its financial backer, London-based technology entrepreneur, Viktor Prokopenya.

Banuba, which is headquartered in Hong Kong and has offices located in the EU, employs 50 staff and serves the communication and eCommerce industries with a range of patented technologies including video editing software development kits for mobile platforms like TikTok.

Its patented technologies in the areas of Augmented Reality (AR) and AI allows Banuba's clients to create a more engaging digital experience where they can change their appearances through beautification technology, try-on make-up solutions, select virtual backgrounds and use a range of cutting-edge video enhancements.

The company began life as a computer vision and artificial intelligence research lab in 2016. Since that time, it attracted funding from VP Capital, the global investment vehicle started by the technology entrepreneur, Viktor Prokopenya, and changed its strategy from targeting consumers directly to supporting the creative software industries. Banuba's technologies are now featured in over 100 million AR sessions each month and continue to grow at a steady rate.

Now the company's management, led by CEO Dmitry Ogievich has acquired VP Capital's stake in the company to anchor ownership across Banuba's leadership and core team members.

Dmitry Ogievich, Chief Executive Officer, Banuba, said;
'We are very grateful to VP Capital for helping us to focus and fund a clear path to success. They have been a pleasure to work with due to their deep knowledge of the sector and of marketing. As Banuba now focuses on its growing leadership in the Face AR and Virtual Try-On sector, the time is right to acquire VP Capital's stake and to ensure we retain our top talent. Being employee and management owned will ensure we continue to deliver state of the art products and premium support to our clients as we expand our target markets via partnerships and strong industry leadership.'

Viktor Prokopenya, Founder, VP Capital, said;
'Watching Banuba grow and thrive has been hugely rewarding. This is exactly the form of project VP Capital was set up to support: helping to maximise the impact of a very good technology idea. We wish Banuba further great success in the future.'

ENDS

About VP Capital

VP Capital is the principal investment firm of IT entrepreneur and businessman Viktor Prokopenya. Viktor founded VP Capital following the sale of his successful business Viaden Media in 2012, to Playtech, the gaming software company.

The areas of technology where VP Capital focuses its active investments - artificial intelligence, augmented reality, computer vision, fintech and blockchain - require a combination of very specific and rare skills as well as a lot of processing power.

Since 2012, VP Capital has backed cutting-edge technology companies working with founders to develop and build powerful technologies and great products. As an investor, VP Capital is highly active in each business it supports, taking a board position to ensure it maintains a hands-on approach in order to super-charge growth, valuations, scale and sales.

VP Capital is focused on growing its current investments and innovative technology projects, and always open to spotting the next new technology trend and business opportunity.

Contact:

Shamillia Sivathambu
[email protected]
+447900 016469

SOURCE: Capital.com

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