Intel to pour $15M into Israeli smarglasses startup OrCam

By VCPOST Staff Reporter

Mar 28, 2014 08:30 AM EDT

Intel Capital is planning to back Israeli smartglasses maker OrCam with a $15-million investment, according to Haaretz.

The investment presents an added advantage to the healthcare and life sciences department of Intel. The transaction is actually part of Perceptual Computing's project that aims to develop cameras that can detect emotion and gestures, the report explained.

The OrCam runs a system similar to Google Glass. A wearable computer is attached to a pair of eyeglasses. Using a five-megapixel camera, the computer reads visual cues that the user is otherwise oblivious to. The $2,500-gadget is able to read text and can learn to recognize faces and other objects, the report detailed.

Specific examples of OrCam's features include detection of traffic light color and identification of specific buses. A visually impaired person said the product is "like a hearing aid for eyes," according to GigaOM.

OrCam was formed by Ziv Aviram and Amnon Shashua. The same people are behind the collision-prevention tech of Mobileye. Both startups use the same foundation in technology, Haaretz reported.

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