N-Tech.Lab Ltd, Cyprus parent company of the operating Russian subsidiary, a developer of facial and other object recognition technology based on artificial neural networks, including the well-known FindFace software, which is based on that technology and owned by the company.
The company's business covers the development, maintenance, marketing and licensing of its technology, software and services relating to facial recognition (including detection and tracking) and other object recognition. The company had been founded by individuals, had already had success with the release of its FindFace software and was further developing its face recognition algorithm. At the time of the transaction, it was in its early-stage development and sought financing for further R&D, broader marketing and commercialization of the technology. By the time of the transaction, the company had won the 2015 MegaFace Benchmark competition organized by the University of Washington.
How they work with DLA Piper
DLA Piper has advised the founders on a number of projects in the IT and telecom area. In 2017, Rostec, a Russian state corporation promoting and investing in advanced technology companies in Russia, and a Russian private investment fund invested in N-Tech.Lab, DLA Piper was the company's and the founders' counsel in that transaction, advising from its inception to the completion stage.