PETACH TIKVA, Israel--(BUSINESS WIRE)--Infinity Augmented Reality (www.infinityar.com), a leading company developing a software-based Augmented Reality engine, announces that it has closed an $18 million Series C financing round. The round was led by the Alibaba Group, the largest online and mobile commerce company in the world in terms of gross merchandise volume, with participation from InfinityAR’s existing Series B investor, SUN CORPORATION, a large Japanese public company.
The funds will allow InfinityAR to finance additional research and development of its product offerings at a faster pace, as well as marketing activities such as the establishment of a customer integration and support group.
“This is about so much more than the funds raised - it is about the strategic partnership,” said Motti Kushnir, CEO of InfinityAR. “With Alibaba’s endorsement, InfinityAR will further cement itself as a leading developer in the augmented reality space. We are very excited to partner with one of the world’s leading companies.”
“This investment represents our commitment to support development in augmented reality (AR),” said Ethan Xie, Senior Director of Alibaba Group. “InfinityAR is a leading developer of AR technologies and its proposition as an open platform aligns with Alibaba’s approach of providing infrastructure support for participants in the ecosystem.”
InfinityAR has pioneered its solution for augmented reality headsets by using standard, off the shelf, mobile cameras and IMU to efficiently map the environment while also enabling Inside-Out Marker-less Orientation and Positional Tracking (SLAM) for the augmented reality world. This combination makes InfinityAR’s engine the perfect solution for enabling all glasses with the ability to understand their surroundings. InfinityAR’s engine enables vendors of AR headsets to reduce their cost, reduce motion to photon latency, and reduce power consumption, by way of using the inside-out SLAM approach.
InfinityAR’s vision is about creating a new digital environment that will allow people to naturally interact with augmented content in their physical surroundings. InfinityAR’s augmented reality development engine enables accurate 3D digital scene representation of one’s current physical environment, using basic, affordable hardware. It is designed to turn any device into a powerful content augmentation platform, so developers can quickly and easily introduce applications with rich AR experiences to market. InfinityAR is a private Nevada company.