Startup Lagos

Apple has acquired a company called WaveOne, which develops AI algorithms to compress videos. Although Apple didn't confirm the sale, former employees of WaveOne have stated that they are now working in various machine-learning groups at Apple. WaveOne's key innovation was a'content-aware' video compression and decompression algorithm that could run on AI accelerators built into many mobile phones and a growing number of PCs. WaveOne also claimed that its video compression technology is robust against sudden disconnections and that its hardware-agnostic approach could cut video file sizes by up to half, resulting in better effects in more complex scenes. Ahead of the Apple acquisition, WaveOne received $9 million from backers including Khosla Ventures, Vela Partners, Incubate Fund, Omega Venture Partners, and Blue Ivy.