Logo Ventures made 1.2 million dollars of investment in Vispera
Vispera, focusing on visual recognition technologies for retail companies, has drawn close to its global growth targets through a new investment it has received. The innovative enterprise, already supported by two important investors last year, recently included Logo Ventures amongst them.
Vispera was founded by Prof. Dr. Aytül Erçil and Dr. Ceyhun Burak Akgül in January 2014 with the goal of applying visual recognition technologies in retail. The company works in the areas of image processing, visual recognition, statistical learning and data mining. Although located in Turkey and serving significant clients in the country its innovative technology, the venture carries a global vision.
12 MILLION DOLLARS IN VALUATION
Already holding investments from Keiretsu Forum Turkey, Keiretsu Capital and Galata Business Angels, Vispera received a recent investment from Actus - Logo Ventures fund. With 1.2 million dollars of investment by Logo Ventures, Vispera reached 12 million dollars in valuation while Logo Ventures acquiring 10% of the company’s shares. Thereby, Vispera almost doubled its valuation regarding the previous round of investments.
This investment is marked as the first investment of Logo Ventures, the venture capital company of Logo Software which was founded in the first quarter of this year with 20% partnership involvement of Actus Portfolio Management A.Ş.
MARKET WORTH OF 30 BILLION DOLLARS
Prof. Aytül Erçil indicates the volume of the market Vispera is involved to be 300 million dollars in Turkey and 30 billion dollars globally. Vispera provides large companies productivity in their local as well as global operations.
Cahit Güvensoy, founding partner and general manager of Logo Ventures who sees the investment as the result of their faith in the technology and vision of Vispera, notes that the enterprise carries the potential to reach the current two Billion dollars valution of Yemeksepeti.
Vispera, providing the retail companies with temporal and economic profitability shows that academic talent can also achieve success in commercial ventures. In the previous months, we have given the signals of more frequent encounters with such endeavors in future. We will keep notifying you as we hear about them.
Translated from an article by Fırat Demirel on Webrazzi.