Estonia, Financial Services, Funds, Good for Business, Innovations, Technology
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Friday, 19.04.2024, 14:39
Estonian startup Realeyes raises EUR 11 mln, to expand to Japan
The round was led by current investors Draper Esprit
and NTT DoCoMo Ventures, who are joined by Japanese venture capital fund
Global Brain and previous investors Karma Ventures and The Entrepreneurs Fund.
The latest round takes total funding raised by the company since its
establishment in 2007 to 28.1 mln euros, Realeyes announced on
Thursday.
The funds will be used to drive the expansion of Realeyes
into Japan, the world's third biggest advertising market, and to develop
its technology beyond the marketing industry into new areas such as mental
wellbeing, smart cities and robotics.
Realeyes said that of its 78 employees, spread
across offices in New York, Boston, London, and Budapest, half work in research
and development.
Realeyes targets its technology at marketing campaigns,
including videos and other creative assets such as photos or GIFs, as part of
focus groups. Realeyes sources participants, who share access to
their webcams and smartphone cameras, and Realeyes uses so-called
"facial coding" to measure human emotion, attention level, and
sentiment through their facial expressions.
The company also uses AI to analyze the words used in
written survey responses, which complements the data garnered from facial
coding.
"With new Japanese investors NTT DOCOMO Ventures
and Global Brain on board, we have the perfect partners to help us
expand into one of the biggest and most exciting ad markets in the world,"
Realeyes CEO and co-founder Mihkel Jaatma said. "There's an
almost insatiable appetite for online video in Japan, and Realeyes' AI-powered
solutions provide the perfect, data-driven solution for advertisers looking to
make the most of this huge demand."
Realeyes was established in 2007 by Mihkel Jaatma, Martin
Salo and Elnar Haiyev, who met while studying at Oxford.