LONDON, UK / ACCESSWIRE / November 24, 2022 / The management of Banuba, an artificial intelligence (AI) camera software company that helps companies build more immersive augmented realities, has bought out its financier, London-based tech entrepreneur Viktor Prokopenya.
Headquartered in Hong Kong with offices in the EU, Banuba employs 50 people and serves the communications and e-commerce industries with a range of patented technologies, including video editing software development kits for mobile platforms such as TikTok.
Its patented technologies in Augmented Reality (AR) and AI enable Banuba’s customers to create a more engaging digital experience, changing their appearance through beautification technology, trying on makeup solutions, choosing virtual backgrounds and a range of can use cutting-edge video enhancements.
The company was founded in 2016 as a computer vision and artificial intelligence research laboratory. It has since received funding from VP Capital, the global investment vehicle founded by tech entrepreneur Viktor Prokopenya, and changed its strategy from targeting consumers directly to supporting the creative software industry. Banuba’s technologies are now featured in over 100 million AR sessions each month and continue to grow.
Now the company’s management, led by CEO Dmitry Ogievich, has acquired VP Capital’s stake in the company in order to entrench ownership to Banuba’s leadership and core team members.
Dmitry Ogievich, Chief Executive Officer, Banuba said;
“We are very grateful to VP Capital for helping us focus and fund a clear path to success. It was a pleasure working with them as they have in-depth industry and marketing knowledge. Banuba is now focused on its growing leadership role in the Face AR and Virtual Try-On space, it is time to acquire VP Capital’s stake and ensure we retain our top talent. As we are employee owned and Management ensures we continue to provide our customers with state-of-the-art products and world-class support while expanding our target markets through partnerships and strong industry leadership.”
Viktor Prokopenya, Founder, VP Capital said;
“Watching Banuba grow and thrive has been very rewarding. This is precisely the form of the project that VP Capital was founded to support: to help maximize the impact of a very good technology idea. We wish Banuba continued success in the future.”
About VP Capital
VP Capital is the main investment company of IT entrepreneur and businessman Viktor Prokopenya. Viktor founded VP Capital after selling his successful company Viaden Media to Playtech, the gaming software company, in 2012.
The technology areas on which VP Capital focuses its active investments – artificial intelligence, augmented reality, computer vision, fintech and blockchain – require a combination of very specific and rare skills as well as a lot of computing power.
Since 2012, VP Capital has backed cutting-edge technology companies that work with founders to design and build powerful technology and great products. As an investor, VP Capital is very active in each business it supports and holds a board position to ensure it maintains a hands-on approach to accelerate growth, valuations, scale and sales.
Focused on growing its current investments and innovative technology projects, VP Capital is always open to identifying the next new technology trends and business opportunities.