Alibaba buys Israeli AR startup amid China investment scrutiny

Alibaba buys Israeli AR startup amid China investment scrutiny

Alibaba is estimated to have paid more than US$10 million to acquire InfinityAR.

An attendee uses an Oculus VR Virtual Reality headset during the F8 Developer Conference in San Jose, California, US. (Bloomberg pic)
TEL AVIV:
Chinese e-commerce giant Alibaba has acquired Israeli startup Infinity Augmented Reality, after investing in the company three years ago.

InfinityAR will join Alibaba’s Israel Machine Vision Laboratory, according to a release dated Thursday on the startup’s website.

Financial details were not disclosed, but Alibaba paid more than US$10 million, according to an estimate from market sources cited by Globes.

“The talented team brings unique know-how in sensor fusion, computer vision and navigation technologies,” lab head Lihi Zelnik-Manor said in the release.

The startup says it can turn AR glasses into a “powerful content augmentation platform.”

It had previously raised US$18 million from Alibaba and Japanese firm Sun in 2016.

The acquisition comes during a time of heightened scrutiny over the role of Chinese investment in Israel.

US officials have raised the prospect of a body to vet investments similar to the US Committee on Foreign Investment.

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