From a story in Wired:
As Riya learns who’s in your pictures, it begins to auto-tag the snaps itself, quickly scanning the rest of your photos and identifying each person it recognizes. Riya also uses text recognition to read street signs and other text in photos.
Definitely a coolish feature. Not a stand alone company, though, right? So this is yet another play to get acquired by one of the big guys, we presume. We’ll be writing more about this trend over the weekend, by the way, and we’ll link to it. Meanwhile, we hope to find out more about Riya at its launch party, held by the TechCrunch folks, which should be an event worth attending.
UPDATE: Riya apparently raised a $4 million Series A round of funding from Leapfrog Ventures and BlueRun Ventures earlier this year, according to VentureWire (sub required).