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APUS Group, Chinese unicorn with more than 510 million global users, has acquired Venture Catalysts-backed Siftr Labs for an undisclosed amount.
With the acquisition, Venture Catalysts – a seed investment and innovation platform – has exited the photo-curation platform.
“Our team has always been passionate about building innovative tech products with the potential to impact and enhance people’s lives. We strive to deliver in terms of performance. Our global elevation has given us an opportunity to keep doing the same on a much larger scale and at a faster pace,” said Romil Mittal, Co-founder and CEO, Siftr Labs.
“The acquisition will help Siftr to grow vertically by tapping the extensive global experience of the premier unicorn. It has been a delightful experience to work together with Siftr and we strongly believe that the business venture will unlock new horizons within its sphere,” said Apoorv Ranjan Sharma, Co-founder, Venture Catalysts.
“This deal has also hinted towards continued interest of global players in building their arsenal of machine learning technologies, and has marked the beginning of sustained Chinese tech acquisitions on Indian soil,” he added.
Founded by veterans from Adobe, Qualcomm, and Samsung with expertise in machine learning, image processing, and mobile development, Siftr Labs is a technology-driven photo-curation platform.
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