Startups
Blippar picks up $37 million hoping to become profitable in the next year
Blippar, the AR startup that launched in 2011, has today announced the close of a $37 million financing led by Candy Ventures and Qualcomm Ventures.
The company started out by offering AR experiences for brand marketers through publishers and other real-world products, letting users unlock AR content by scanning a tag called a “Blipp”.
Blippar then transitioned to a number of different AR products, but took a particular focus on computer vision, launching a consumer-facing visual search engine that would let users identify cars, plants, and other real-world objects.
Most recently, Blippar has introduced an indoor positioning system that lets commercial real estate owners implement AR mapping and other content from within their buildings.
The AR industry has been in a state of evolution for the past few years, and Blippar has constantly reshifted and re-positioned to try and take advantage of the blossoming market. Unfortunately, several pivots have put the company in a tough spot financially.
BI reports that Blippar posted revenue of £8.5 million ($11.2 million) in the 16-month period up to March 31 2016, with losses of £24 million ($31.5 million). These latest rounds have essentially let Blippar keep the lights on while trying to pick up the pace on revenues.
The company says that this latest round is meant to fuel the company’s race to reach profitability in the next 12 months. Blippar has raised more than $137 million to date.
-
Entertainment7 days ago
Election 2024: The truth about voting machine security
-
Entertainment6 days ago
Teen AI companion: How to keep your child safe
-
Entertainment6 days ago
‘Wallace and Gromit: Vengeance Most Fowl’ review: A delightful romp with an anti-AI streak
-
Entertainment5 days ago
‘Dragon Age: The Veilguard’ review: BioWare made a good game again
-
Entertainment5 days ago
Polling 101: Weighting, probability panels, recall votes, and reaching people by mail
-
Entertainment4 days ago
‘Only Murders in the Building’ Season 4 ending explained: Who killed Sazz and why?
-
Entertainment4 days ago
5 Dyson Supersonic dupes worth the hype in 2024
-
Entertainment3 days ago
When will we have 2024 election results online?