Morning Report: AI-driven image enhancement platform Meero has raised a $45 million Series B.
Paris-based photography platform Meero has raised $45 million in a Series B round led by Paris-based Alven Capital and Idinvest Partners, announced today. Founded in 2014, this is the third capital infusion for the company. Most recently, Meero raised $18 million in its Series A in September 2017. This latest round brings the company’s aggregate funding to $67.5 million, according to Crunchbase.
Meero aims to provide its customers with enhanced photography services. Its AI-driven photograph enhancement software is meant to reduce the time that photographers spend on editing and image enhancement.
Customers order a photoshoot through Meero, which then briefs the photographer that the customer has selected based on the requirements of the photoshoot. After the photos are taken, the images are uploaded and processed through Meero’s software, which the company claims is packed with over 25 million enhanced photos. The software analyzes the assets of the photo and, using that back-end data, produces an enhanced version of the photographs from the shoot for download.
Meero boasts more than 40,000 customers in more than 100 countries, including Airbnb, Houzz, and Doordash, and a team of 180 employees, per its website. The company currently operates in five verticals including real estate, food, lifestyle, e-commerce, and retail. Its software can process regular photos, 360-degree panorama photos, and videos. The company will reportedly use its latest funding to expand internationally to the U.S. and Asia-Pacific.
From The Crunchbase Daily:
- Semiconductor giant Broadcom announced that it has reached an agreement to acquire enterprise software provider CA Technologies for $18.9 billion, a 20 percent premium over its recent public valuation.
- Global venture funding to companies with female founders skyrocketed in the second quarter, according to a Crunchbase analysis. However, there’s a catch. The big jump is mosly due to a single $14 billion Series C round for China-based payment provider Ant Financial.
- After a relatively strong first quarter, the venture funding scene in Texas was unable to keep pace in the second quarter, with both total investment and deal volume trending lower.
- Magic Leap, the heavily funded developer of augment reality headsets, said it will ship its first hardware this summer. AT&T also announced a deal to invest in the company and distribute its products.
- Sound Ventures, the venture firm co-founded by Ashton Kutcher and Guy Oseary, is seeking to raise $150 million for a new fund, according to a securities filing.
Illustration Credit: Li Anne Dias