Photo Scanning App Developer Photomyne Reportedly Raises $5 Million

Photomyne Ltd., a Tel Aviv startup that develops an AI-powered app for digitizing old family photos, has raised $5 million, Techcrunch reported Tuesday. The Series A round was led by Maor, a Luxembourg-based tech fund. The deal brings Photomyne’s total equity funding to $7.6 million.

The app allows users to scan multiple photographs at the same time and the app’s artificial intelligence automatically detects borders, crops and rotates photos, and organizes them into digital albums. Photomyne has a million users, a quarter of whom pay an annual subscription fee of $20 for advanced features, according to Techcrunch.