AlgoFace wins $150K grant through state accelerator program

Ethical face AI provider AlgoFace has announced it has won a $150,000 grant by the Arizona Commerce Authority as one of 10 awardees of the 2023 Arizona Innovation Challenge (AIC), one of the largest business plan competitions in the U.S.

AlgoFace is a U.S. based company led by a diverse team of engineers. It provides 2D and 3D facial analysis tools such as virtual try-on and hair color matching software.

Since its inception in 2011, the AIC has selected 140 awardees out of over 2,800 applicants. AIC’s startup portfolio has raised over $1.8 billion in funding and has seen 29 successful exits. It has a portfolio valuation of over $2.8 billion.

“We are honored and humbled to have been chosen as one of the 10 recipients of the AIC 2023 awards and to become an ACA portfolio company,” says AlgoFace CEO Andrew Bart. “As a member of the ACA’s illustrious group of startups, we look forward to accelerating our path of success.”

The grant funding will be made available by completing milestones in the Venture Ready Accelerator program, only available to AIC awardees. The 6 month long accelerator program is designed to ensure Arizona companies can access local resources, connecting small business owners with experienced CEOs to facilitate scaling.

AlgoFace was a cohort company in the Fuel AI/ML Accelerator program sponsored by Walton Family Foundation and was named as one of the 10 Startups to Watch 2024 by the Phoenix Business Journal.

Article Topics

accelerator program  |  Algoface  |  Arizona  |  biometrics  |  face biometrics  |  facial analysis  |  funding