Intel Capital has invested $15 million into OrCam, the Israeli startup that turns the world into speech for the blind, according to a report by GigaOm.
“OrCam had an investment round and Intel indeed participated in it,” Dr. Yonatan Wexler, Senior VP R&D of OrCam, told ISRAEL21c, but did not expand on financial details. “There is good synergy between the companies. We intend to use Intel’s capabilities to improve our product.”
The OrCam device is a smart camera that clips onto one’s glasses and helps the visually impaired “read” words and numbers around them. The $2,500 device uses algorithms and bone conduction technology and is already on the market.
ISRAEL21c listed OrCam as one of the Top 10 Israeli advances in vision.
According to the GigaOm report, Intel will likely use the technology to help its emotion “perceptual computing” system or use it for its growing healthcare and life sciences division.
Press play on the video and watch how it works: