SmartGateVC is investing in SuperAnnotate AI, a 10-20x faster image annotation technology powered by AI.
According to cofounder and CEO of the startup Tigran Petrosyan, their solution can save millions of dollars for potential customers like Google, Facebook and Uber, who deal with self-driving car footage, satellite images, drone footage, etc.
“First of all, as an investor you back winners. Early stage startups are very uncertain but very personal at the same time. Here you work only with people you have respect for and full trust. Very excited to back this amazing team with incredible learning curve!” said Hambardzum Kaghketsyan, Partner at SmartGateVC.
Another Partner at SmartGate Ashot Arzumanyan added that SuperAnnotate can have significant contribution to the progress in AI.
SuperAnnotate is a winner of Sevan Startup Summit 2018. The startup also won in the pitching contest held in the framework of HIVE Tech Summit in Yerevan last week.
With USD 3 million target capital, SmartGateVC invests up to USD 100,000 in startups at early stages of development. The fund’s areas of focus are artificial intelligence, security, and the Internet of things.
In late February SmartGateVC announced investment from American venture capitalist Tim Draper, who was among the early investors of Skype, Baidu, Hotmail and Tesla. The fund operates in Hero House in Yerevan.
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