IQ Engines Receives $1 Million in Series A Financing

IQ Engines has secured $1 million in a Series A financing. The company plans to use the capital to support the public launch of its any-image recognition engine, an application programming interface (API) that enables retailers, handset manufacturers, wireless carriers, and application developers to build visual search, image labeling, and augmented reality applications for mobile phones. The IQ Engines any-image recognition API is now available via the company's new developer portal at http://developer.iqengines.com. The company also announced today that it has received a $119,000 research grant from the National Institute of Health, which will be used to support further development of its any-image recognition engine's ability to provide accessibility tools to assist the vision-impaired, and a $200,000 supplement to its SBIR Phase II grant from the National Science Foundation to advance the development of 3D object representations for visual search.

"I believe that visual search powered by IQ Engines' any-image recognition technology will change the way that people use mobile devices."  "I believe that visual search powered by IQ Engines' any-image recognition technology will change the way that people use mobile devices," said David Austin, a former Apple Inc. executive who joined the IQ Engines Board of Directors in conjunction with the financing. "During my 17 years with Apple, our goal was to make every interaction with the computer elegant and intuitive, and IQ Engines shares that goal.