Latvian AI solutions developer Apply sold 25% of the company to AJ Power

Latvian AI solutions developer Apply has sold 25% of the company to Latvian investor AJ Power.

Founded in 2012 in Riga, Apply develops AI solutions for various industries. Its board members are Agnis Jakubovics and Valts Jakubovics. The company uses AI and computer vision to solve business problems of companies and implement digitalization and Industry 4.0 methods in media, healthcare, smart city solutions, retail, etc.

For example, the company's technology improves visual quality control in the industry by automatically detecting product defects or increasing production speed. Also, the company's solution can perform 24/7 analysis of TV channels and provide advertising statistics through computer vision.

The deal is a strategic partnership between Apply and AJ Power. As for AJ Power, it will be able to provide its customers with new services based on AI and other technology solutions, and also create new export products. Apply and AJ Power are already working together to develop IT solutions in the energy sector. These solutions will use AI to help customers improve their energy efficiency.

Founded in Riga in 2014, AJ Power is a private equity group operating in the energy and waste management sectors. The CEO is Roberts Samtins.