Israeli company InfinityAR today announced that it had raised $5 million in its second financing round. Investors included Sun Corporation of Japan, which will help the company penetrate the Japanese market, and the Singulariteam and Platinum Partners funds. The money raised will be used to develop the company's product.
InfinityAR has undergone several changes in its business. In recent months, it has presented its augmented reality new product to the Israeli media. InfinityAR is not developing hardware, such as spectacles for consumers or organizations; it is a software company. Its solution is made for the spectacles of other companies, and can work even on products with hardware for a few dollars.
The company's product presents a very interesting solution for medicine, training, and games. In a demonstration for "Globes," a game with cars was shown, in which the software identifies the table, where it ends, and even the wall near it. As a result, the car moves on the table, and when it reaches the edge, it can drop off and stick to the wall. Another demonstration involved medicine, in which a surgeon can use spectacles in order to obtain information displayed next to the person undergoing surgery, e.g. a body scan, and a convenient perspective from various angles.
"The product that we're offering will be first of all for the business market, and only at the end for the consumer market," says InfinityAR CEO Motti Kushnir. "In the next two years, this product will be in training, for example a display of airplane engines for airlines, and will then reach the casual games market. We're glad to be the engine of the augmented reality world." InfinityAr plans to launch its software already in the fourth quarter of this year. The company has seven employees, and $7.2 million has been invested in it to date, including the current round.
Published by Globes [online], Israel business news - www.globes-online.com - on April 8, 2015
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