Barcelona Startup Restb.ai Wins €1.7M In Funding Through EU Horizon 2020

Restb.ai, a startup from Barcelona that provides image recognition for real estate, wins the European Innovation Council (EIC) pilot, which is part of the Horizon 2020 programme, and lands a €1.7M investment.

In a very strong competition, Restb.ai has been selected out of 1,658 proposals to be crowned as one of the 64 final winners. As a result, Restb.ai will, alongside other innovative companies, receive funding and also benefit from 12 days of free business coaching and acceleration services.

Restb.ai applied and passed the first stage in February 2018 and sailed through the second round as well. In the last step, the 2 co-founders of the company presented their technology in front of an expert jury consisting of entrepreneurs, venture capitalist investors, and innovation experts.

The goal of Horizon 2020 is to ensure that Europe is a world leader in science, innovation, and tackling societal issues. The EIC pilot, as part of Horizon 2020, is focused on supporting top-class innovators, entrepreneurs, small businesses, and scientists that focus on innovating and developing breakthroughs.

Restb.ai applied to the programme through the SME Instrument, the part of EIC which provides financing for innovation activities like demonstration, testing, piloting, and scaling up.

Restb.ai is a computer vision company specializing in image recognition for real estate. Restb.ai’s plug-n-play solution identifies, categorizes, and delivers results on property-related images with an accuracy of up to 99%. The solution pushes the boundaries of machine learning, having been designed from the ground up to accurately recognize complex concepts within a real estate context.