One of the world’s leading augmented reality technology developers, Augmented Pixels, formerly known as AR23D, has attracted investments from AVentures Capital. The amount of investment was not disclosed, but the deal for the fund will own AVentures 25% of the company.
AVentures Capital, a Ukrainian venture capital fund that invests primarily in the information technology sector, might have invested from $300,000 to $3 million in Series A deal. According to the founder and owner of AR23D Vitaly Goncharuk, negotiations were conducted for six months, and the deal was closed for 2 months. The company plans to use the money to further develop and promote AI applications, and to expand its international presence.
Augmented Pixels primarily develops augmented reality browser GlorAR, which can be useful for architectural firm to show the client 3D-model of their future house. The company also develops mobile phone technology and applications in “augmented reality,” a live, direct or indirect, view of the physical environment whose elements are augmented by computer-generated sensors.
“This newly created industry is developing rapidly in both hardware – such as Google Glasses – and software,” said an AVentures’ press release today. “Experts from Mind Commerce, Juniper Research, Research and Markets, as well as others forecast a multibillion dollar turnover in augmented reality in just two to three years.”
The Augmented Pixels global team is targeting to take 10% share of the world of augmented reality. The company develops and monitize the technology through the sale of licenses to both business-to-business and business-to-consumer clients, as well as through the sale of its own products. Augmented Pixels plans to expand the technology with advertising agencies, gaming companies, and develops strategic partnerships within the augmented reality ecosystem.
“The development of the augmented reality industry is accelerating. I am confident that already in 2014 we will witness disruptive new generation devices and mass-market consumer applications. AR23D (Augmented Pixels) is gaining traction in a very promising category of mobile applications and games. We are pleased to become partners with world class technology entrepreneurs with an eye on making money” – noted Yevgen Sysoyev, Managing Partner of AVentures Capital.
According to a recent report by Research and Markets, global market for augmented reality based AI apps to grow to $6 billion in 2016. Augmented reality is now used by the game developers, travel agencies, and fashion industry, consumer shopping and even filmmakers.
This technology gives more realism to the sense of presence. In 2013, developers are betting on the growth of mobile gaming with elements of the augmented reality. Google Glass is one of the best examples of how the technology is working. Microsoft has filed a patent application for their own version of the Project Glass.