OpenAI buys camera startup Glass Imaging for over $300m, WSJ reports

OpenAI has bought Glass Imaging, a startup that uses AI to improve smartphone cameras, in a deal that values it at more than $300m. The Wall Street Journal reported the purchase on 14 September, citing people familiar with the matter.

According to the WSJ, OpenAI bought the company quietly in recent months. Neither company has announced the deal. OpenAI did not immediately respond to a request for comment, TechCrunch reported.

A funding round last year valued Glass Imaging at about $100m, The Information reported, citing the WSJ. The reported price is more than three times that figure.

What Glass Imaging makes

Two former Apple engineers started the company in 2019, and it has its base in Los Altos, California. It had raised about $30m from investors before the deal, TechCrunch reported. Its website lists GV, LDV Capital, Future Ventures, Abstract Ventures, Ground Up, and Insight Partners as backers.

Its software,...

Copyright of this story solely belongs to thenextweb.com. To see the full text click HERE