Hungarian creator of sign language software receives VC
Budapest-based startup SignAll Inc. has received €1.5 million from an international association of venture capitalists to help launch its software that automates the interpretation and communication of American Sign Language (ASL), on the U.S. market, according to a press release issued by the company today.
The startup, emerged from Hungarian R&D and ICT firm Dolphio Technologies and first captured the attention of investors at the LT-Innovate Awards held in Brussels last year, and earlier at Googleʼs and NASAʼs Singularity Universityʼs Global Impact Finals in 2014, the press release noted.
Investors in the project include Credo Ventures, Perion, and Conor Venture Capital Funds. SignAll received €1.5 mln to help introduce it to the U.S. accessibility market. This is one of the largest seed investments in the CEE to date, according to the press release.
“SignAll’s team of 20 people has already delivered working prototypes of this technology that will be able to revolutionize communication between the deaf and hearing,” said Credoʼs Andrej Kiska. “In comparison to similar projects, SignAll is the only one that recognizes complete sentences, not just single signs. Itʼs technology unites two skyrocketing sciences, computer vision and natural language processing,” Kiska added.
“Our software will first be available for ASL users, and in the United States first, where accessibility for the deaf is highly developed. … For the first time in history it will enable the real time translation between different sign languages, which will broaden its usability significantly,” according to Zsolt Robotka, Founder and CEO of SignAll.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.