With UK expansion plans, AI computer vision startup Mobius Labs raises £4.5M funding
Berlin-based Mobius Labs is a next-generation AI-powered computer vision startup that disrupts how the world works with visual content. In a recent development, the startup secured €5.2 million (nearly £4.5 million) in a Series A funding round.
The investment round was led by European Venture Capital pioneer Ventech VC. Also, other investors that took part in the round include Atlantic Labs, APEX Ventures, Space Capital, Lunar Ventures and additional angel investors.
Mobius Labs has more than doubled its team over the last 18 months and has 30 employees now. It plans to use the funds to double its headcount in the next 12 months. Also, Mobius Labs will continue to accelerate its growth and expand its geographical footprint with a strong focus on Europe and US. The investment will partly go towards growing its presence in UK. Mobius Labs plans to open an office in the UK in early 2022.
The company celebrates twofold year-on-year growth while retaining all existing customers and plans to further strengthen its activities in the media and space sectors with geospatial intelligence a big focus area for its technology.
The company plans to improve core algorithms that power its few-shot capability feature and develop further algorithms for edge computing that can be deployed in many devices and scenarios including cameras, mobiles or satellites.
“I am very proud of what we have achieved at Mobius Labs so far but there is still a lot to be done. This new round of funding will help accelerate our plans and expand quickly as a company,” said Appu Shaji, CEO and Chief Scientist at Mobius Labs. “The last 18 months has been very challenging for many firms, but we have continued to grow throughout the pandemic while retaining all existing customers and look forward to enhancing our product and taking computer vision technology to the next level.”
“Appu and the team at Mobius Labs have developed an unparalleled offering in the computer vision space. Superhuman Vision™ is impressively innovative with its high degree of accuracy despite very limited required training to recognise new objects at excellent computational efficiency. We believe industries will be transformed through AI, and Mobius Labs is the European Deep Tech innovator teaching machines to see,” said Stephan Wirries, Partner at Ventech VC.
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