On January 9th, Jeon Jae-young, CEO of a fashion image recognition company Omnious, announced that the company has received a total of 1 Billion KRW in investments from a venture capital company Korea Investment Partners. Omnious had attracted 300 million KRW in seed investment from Mashup Angels and Big Basin Capital last year.
Omnious is a startup that develops fashion image recognition solutions with Deep Learning-based artificial intelligence (AI) technology. The company has developed technology that recognizes various fashion attributes ranging from images to items, colors, shapes, details, prints, and materials, and search for similarities between different product images.
Omnious recently applied image recognition AI technology to the fashion field by accumulating more than 2.8 million fashion images and 800,000 fashion images as its learning data. Through the accumulated training datasets, the company aims to develop an image recognition solution that automatically tags and classifies fashion images with only images, and ultimately an image search engine that enables users to find similar product information quickly and accurately.
Jeong Hwa-mok, Head of Korea Investment Partners and the leader of this investment stated, “We decided that Deep-Learning technology will play a critical role by quickly and accurately obtaining high-quality information in an age of superfluous information and choices.” He added, “Omnious has the highest level of technical expertise in the Deep-learning based image recognition field and a good teamwork. We expect the company to further develop its value chain in the industry after this investment.”
Omnious CEO Jeon Jae-Young stated, “As customers’ needs are being increasingly personalized, we will provide better customer experience and customized solutions by collaborating with fashion and commerce companies that are willing to utilize the Artificial Intelligence technology. We aim to become a global image recognition AI solution company.”
With this investment, Omnious plans to establish strong connections with domestic and foreign commerce and fashion companies as well as other companies that need image recognition solutions.
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