Alibaba acquires Israeli augmented reality start-up InfinityAR

Founded in 2013, InfinityAR is a provider of an operating system turning augmented reality glasses into a content augmentation platform.

By
March 25, 2019 00:58
1 minute read.
Jack Ma, founder of Chinese e-commerce giant Alibaba, laughs during an event

Jack Ma, founder of Chinese e-commerce giant Alibaba, laughs during an event at the Tel Aviv University, Israel May 3, 2018. (photo credit: AMIR COHEN/REUTERS)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Jack Ma’s e-commerce giant Alibaba Group has acquired Ramat Gan-based start-up Infinity Augmented Reality, the companies announced on Sunday.

While no financial details were disclosed, the financial daily Globes cited market sources estimating a deal in excess of $10 million.
Founded in 2013, InfinityAR is a provider of an operating system that turns augmented reality glasses into a content-augmentation platform, based on its own inside-out simultaneous localization and mapping solution, or SLAM.

Under the agreement, InfinityAR will join Alibaba’s Herzliya-based Machine Vision Laboratory, established by Alibaba’s DAMO Academy, the e-commerce giant’s $15 billion technological innovation arm located in seven cities worldwide.

“We look forward to joining Alibaba, a world-class innovative global technology company, and as part of the company’s Israel Machine Vision Laboratory,” said Motti Kushnir, CEO and cofounder of InfinityAR.

“Alibaba’s expertise in turning technologies into next generation products will be a great platform for the future technologies of computer vision, AR and AI.”

InfinityAR has been working with Alibaba since 2016, when Jack Ma’s group led an $18m. Series C financing round for the company, in partnership with Japanese IT and entertainment firm Sun Corporation.


“Alibaba is delighted to be working with InfinityAR as one team after three years of partnership,” said Prof. Lihi Zelnik-Manor, head of Alibaba’s Israel Machine Vision Laboratory.

“The talented team brings unique knowhow in sensor fusion, computer vision and navigation technologies. We look forward to exploring these leading technologies and offering additional benefits to customers, partners and developers.”

The acquisition of InfinityAR represents Alibaba’s second purchase of an Israeli company to date, buying Israeli start-up Visualead in November 2017.

In December 2018, the Alibaba Group made a strategic investment in Tel Aviv-based public transit optimization start-up Optibus, and since 2016 has also invested in cloud-connected dashcam developer Nexar, advanced GPU data warehouse providers SQream Technologies, augmented-reality company Lumus and e-commerce search engine firm Twiggle.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

People queue at rental car desks at the international airport in Munich
May 21, 2019
Energy giant Shell makes first Israeli investment, backs AI start-up Ravin

By EYTAN HALON