Market Reality: Immersv Closes Funding Round While Lampix Completes Coin Offering

Immersv Closes Funding Round While Lampix Completes Coin Offering

This week, two companies looking to capitalize on the growing augmented reality industry, raised funding from starkly different sources.

Meanwhile, several companies supplying components and technology for augmented reality experiences reported positive results from the first and second quarter fiscal reports.

Immersv Infused with $10.5 Million Series A Round of Funding

Rogers Venture Partners led a Series A financing round that raised $10.5 million for interactive advertising platform Immersv.

Participants in the round also include Foundation Capital, The Venture Reality Fund, Initial Capital, East Ventures, HTC Vive, and others. As part of the round, Paul Sestili, general partner at Rogers Venture Partners, and Hironao Kunimitsu, founder and CEO of gumi, were appointed to seats on Immersv's board of directors.

The Immersv Team. Image via Immersv

The financing will enable Immersv to accelerate product development and expand its publishing inventory as it brings more brands and marketers onto its platform. While Immersv's offering concentrates on mobile 360 and virtual reality experiences, the company is primed to expand into augmented reality.

"We are excited about the opportunities AR provides for marketers to deeply connect with consumers. Our platform was specifically designed for these next generation interactions. And as the former CEO of Flyby Media, which is now the team behind ARKit at Apple, I have a unique appreciation for these technologies," said Mihir Shah, president and CEO of Immersv, Inc., in a statement to Next Reality.

Lampix Raises Nearly $14 Million from Initial Coin Offering

Lampix has raised more than 116 million in PIX tokens, worth about $13.95 million, in its crowdsale token launch.

The company wants to establish a blockchain-based image mining network for augmented reality, with its PIX token system used for purchases and payments.

Makers of an augmented reality projector that turns any surface into an interactive computing surface, Lampix has begun to introduce its award-winning device at companies like Bloomberg.

Suppliers Succeed in Second Quarter Based on Augmented Reality Growth

Companies supplying components for augmented reality technologies saw favorable results in their second quarter financial reports.

D-BOX Technologies, a vendor for the NFL Experience Times Square, reporting completed the first quarter of its fiscal year on June 30 $8.1 million in revenue, a six percent increase over last year.

Spectra 7, a provider of semiconductor products from augmented reality and other connectivity products, recorded $3.1 million in revenue for the quarter, an 18 percent increase compared to the same period last year.

Spectra 7 makes semiconductor components for augmented reality devices. Image via Spectra 7

Finally, Flexpoint Sensor Systems, makers of gloves for hand-gesture input in augmented and virtual reality, closed the quarter with nearly $155,000 in net revenues, an increase of 66 percent compared to the same period last year.

Every Friday, Next Reality reviews the latest headlines from the financial side of augmented and mixed reality. This weekly Market Reality column covers funding announcements, mergers and acquisitions, market analysis, and the like. Check out previous editions of Market Reality for more news you may have missed.

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Cover image via Bloomberg

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