Augmented reality start-up and maker of an AR browser app Blippar has just completed a pre-Series A funding round of $5 million led by 4J Studios, Chroma Ventures, and West Coast Capital.
Blippar wants to use the funding to secure a stronger position in the AR space and develop its technology and accelerate growth in the US, Europe, and Asia.
“We are very excited to have attracted investors of this calibre to Blippar. Not only is this a solid vote of confidence in Blippar’s technology from some of the most highly regarded industry veterans and business minds, but it also demonstrates sustained validation of the UK tech sector post-Brexit,” said Faisal Galaria, Blippar CEO.
Blippar previously fell into administration in 2018 after raising over $150 million.
Its intellectual property assets were then acquired by Candy Ventures and the company was reborn in June 2019.
That’s when it rolled out a web-based AR solution that allowed anyone to create AR experiences for the web.
Since then, its revenues have risen 200% quarter on quarter throughout 2020.
“We have leveraged our 10 years of investment, provenance, and technology leadership in the AR space to come back leaner, more focussed and better than ever before,” added Galaria.