PicsArt to open AI lab in Moscow

PicsArt, a Californian startup with Armenian roots, is opening a an AI lab in Moscow.

The company is planning to hire 20 local engineers and invest up to $2 million in the facility. The lab will help PicsArt develop  AI approaches for photo filters, AR cameras, and advertising.

Such companies as Microsoft, SAP and Samsung also conduct AI-oriented R&D programs in Russia, notes Vedomosti.

Launched in 2012, PicsArt has developed a leading image editing app available in more tan 30 languages. It claims over 500 million installs and 100 million monthly users. The startup has raised $45 million so far, according to CrunchBase.

Among PicsArt’s shareholders are such funds as DCM Ventures, Insight Venture Partners, Siguler Guff and Sequoia Capital – a rare case for a startup from Eastern Europe.

Sources: VC.ru, Vedomosti, CrunchBase

Topics: Artificial intelligence, International, Moscow, News, R&D, Regions & cities, Startups
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