Central regions | Finance, business | Technology & innovation
Machine learning tech of Russian origin sold to Koreans
9 Jan '19
Stickeroid AI, a two-year-old start-up, has sold its technology to a Korean group of companies called Naver, Rusbase reported, citing Stickeroid AI CEO Viktor Kokh. The dealís value has yet to be disclosed.
The Cyprus-based company of Russian origin is developing a cloud platform that applies machine learning to converting words into stickers.
According to Mr. Kokh, itís ďnot the company thatís been sold in the deal; itís only part of the technology.Ē
In late November 2018, Stickeroid AI joined the winners of a special start-up competition called GoTech, and was eligible for a $200K prize from AD.ru, a Russian investment fund. The start-up didnít receive the prize, though, because it refused to negotiate terms as it was preparing for the Korean deal.