Tech-driven prestige makeup manufacturing company IL Makiage Israeli computer vision startup Voyage81. No information has been shared regarding the valuation of the acquisition deal.
Voyage81 is an industry-leading deep-tech artificial intelligence-based computational imaging startup that specializes in developing hyperspectral imaging applications for smartphones.
With this acquisition, IL Makiage plans to integrate Vouage81’s platform with its own to enhance its machine learning capabilities that would help IL Makiage to bring innovations in the beauty and wellness industry at a larger scale. The acquisition will also help IL Makiage to launch its new brand in the beauty industry.
CEO of IL Makiage, Oran Holtzman, said, “For the past two years, we have been searching for computational imaging solutions that can work in beauty and wellness to advance our existing AI capabilities further. I have met dozens of computer vision startups but could not find a technology that can fit our industry and was strong enough to fulfill our goals.”
He further added that the integration of Voyagfe81’s patent technology and experienced team with their data science department would enable the brand to bring groundbreaking innovations.
Voyage81 is currently developing new camera hardware in collaboration with many industry-leading smartphone manufacturers that would allow users to capture high-quality images in low lighting conditions. The hardware will use Voyage81’s artificial intelligence-powered hyper-scale imaging technology to carry out its operations.
Co-founder and CEO of Voyage81 Dr. Boaz Arad, said, “combining Voyage81’s physics-based algorithms with IL MAKIAGE’s existing data science team and utilizing the company’s one billion+ data points and unprecedented daily incoming data flow, will further boost our AI vision capabilities.”
He also added that both the companies together would be able to achieve technological superiority over the competitors in order to conquer the next frontier in the beauty and wellness industry.