IL MAKIAGE acquires computer-vision startup Voyage81
The cosmetics company acquired the Israeli artificial-intelligence computational imaging startup for an estimated $40 million
CTech | 15:53 12.08.2021
New-York based Israeli-owned cosmetics company IL MAKIAGE announced on Thursday that it has acquired Voyage81, an Israeli deep-tech artificial-intelligence-based computational imaging startup for an estimated $40 million. IL MAKIAGE’s acquisition of Voyage81 will enable it to use the startup’s patented Hyperspectral Imaging Systems to further enhance its machine learning capabilities that will continue to revolutionize the beauty industry. It also sets the stage for the company’s planned new launches, as this marks the beauty company’s second technology acquisition in the past 24 months. The company previously acquired Israeli startup NeoWize, which develops deep learning algorithms and technology for e-commerce solutions. Voyage81 is the first company to develop patented software that brings hyperspectral imaging capabilities to smartphones. Its software extracts over 30 channels of hyperspectral information from RGB images taken with existing smartphone cameras. In addition to its vision software, Voyage81 is currently developing a hardware-based solution that builds on the company’s hyperspectral software to significantly enhance photos taken in low-light conditions with smartphone manufacturers.