JERSEY CITY, N.J.--(BUSINESS WIRE)--Apprentice.io, creator of the first conversational augmented reality (AR) and artificial intelligence (AI) platform, announced today an $8M Series A funding round led by Pritzker Group Venture Capital with participation from existing investors, Silverton Partners and Hemi Ventures. The Venture Reality Fund — leading early-stage investor focused on immersive and intelligent computing — and GFR Fund also joined as new investors.
With more than $10 million in total capital raised to date and support from the industry’s top AR/VR funds, Apprentice.io is recognized as the leader in enterprise AR for the pharma/biotech industries and, by extension, lab, line and suite environments.
With extensive domain expertise, integrated industry features, and an in-house research laboratory, Apprentice.io is the premier solution for batch records, tech transfer, R&D workflows, training procedures, troubleshooting, and support.
The Apprentice platform is the all-day workflow solution, built for the entire organization — from the scientist performing experiments in a lab to discover the next ground-breaking drug, to the operator in a manufacturing suite getting that drug to market for millions of patients around the world.
In a cleanroom gown, a lab technician can use Apprentice’s conversational user interface (UI) to access complex procedures, visualize a 3-D technique demonstration, and intelligently capture or track data using computer vision — all without touching a single piece of paper.
“We like to say that we don’t just augment reality; we augment human ability,” said Angelo Stracquatanio, co-founder and CEO of Apprentice.io. “AR and AI are changing the way workforces across all industries solve problems and share information, ushering in the next wave of human potential.”
In order to meet the needs of all workforces in complex enterprise industries, especially those in pharma and biotech, Apprentice.io solutions are built platform-independent, mobile-capable and industry-compliant.
For more flexible environments, Apprentice has leveraged the iPhone XS to support mobile solutions with ARKit 2, and ARCore for Android-enabled devices. For hands-free, fully immersive AR experiences, Apprentice utilizes HoloLens and Magic Leap devices, while monocular smart glasses such as RealWear HMT-1 provide the versatility for all-day operation.
“We are absolutely thrilled to be collaborating with the leader in AR and AI,” said Peter Liu, vice president, Pritzker Group Venture Capital. “Angelo and his team of experts have a clear vision for what will be the next generation of enterprise AR. It was among the many reasons we were eager to invest at this stage.”
The New Jersey-based startup has tripled in size and customer reach, adding numerous top Fortune 100 clients across the U.S., Asia, South America and Europe. The New Jersey Tech Council recently selected Apprentice.io as the recipient of the 2018 Outstanding Technology Award for its innovation and leadership within life science industries.
With new capital, Apprentice will further expand its mission to change the way humans work. Significant developments in new products and features, intelligent responses, and international partnerships are on the horizon for Apprentice.
Key features and benefits of Apprentice include:
- Augmented batch records
- Tech transfer
- Seamless R&D workflows
- Instant troubleshooting and global support
- Hands are free to perform tasks guided by virtual data
- Stoppages for handwritten notations and data recordation are eliminated
- Time expenditures and financial losses caused by communication delays or remote site travel are greatly reduced
- Instant communication with remote vendors for machinery repair the moment immediate action is required
- Real-time global collaboration
- Efficient, cost-effective training
- Significant annual cost-cuts with direct SME support
- All data content is captured, recorded and exported for audit-readiness
- Avoid extensive down time from audit investigations and costly procedural deviations caused by human error
Apprentice.io is the leading enterprise augmented reality (AR) provider for all lab, line and suite environments, with extensive specialization in pharma and biotech industries. The company developed and globally deployed the first conversational, industry-compliant augmented reality (AR) and artificial intelligence (AI) platform. Apprentice is the premier solution for batch records, tech transfer and R&D workflows as well as training procedures, troubleshooting and support. Mobile ARCore/ARKit 2 solutions, fully immersive AR devices and monocular smart glasses are leveraged to provide live AR content, real-time feedback for performance correction, and intelligent data-capture to improve complex workplace processes.
Apprentice’s mission is to develop a world in which our solutions are used to empower scientists, engineers and manufacturers who operate in various complex, compliance-driven environments, ushering in the next wave of human potential.
Apprentice is headquartered in New Jersey, with global product deployments at Fortune 100 pharma, biotech, cosmetic, consumer goods and chemical companies across the U.S., Asia, Europe and South America. For more information, visit apprentice.io.
About Pritzker Group Venture Capital
Pritzker Group Venture Capital (PGVC) helps entrepreneurs build market-leading technology companies at every stage of their growth. Since its founding in 1996, the firm has worked side-by-side with entrepreneurs at more than 150 companies, building partnerships based on trust and integrity. The firm’s proprietary capital structure allows for tremendous flexibility, and its experienced team of investment professionals and entrepreneur advisers offers companies a vast network of strategic relationships and guidance. PGVC invests predominantly in Series A and Series B companies with particular focus on consumer, digital health, enterprise and emerging technologies. For more information, visit pritzkergroup.com/venture-capital.
About The Venture Reality Fund
The Venture Reality Fund (“The VR Fund”, “VRF”) is a Silicon Valley and Los Angeles-based venture capital firm focused on early-stage investments in immersive, spatial and intelligent computing for consumers and enterprise. The firm invests globally in innovative companies across a wide variety of sectors, from infrastructure to content and applications, to help entrepreneurs bring industry-defining technology and solutions to market. For more information, visit thevrfund.com.
About GFR Fund
GFR Fund is a San Francisco-based AR and entertainment-focused fund with over a decade of experience in driving innovators. For more information, visit gfrfund.com