Investors are ready to throw their money at augmented and virtual use cases that demonstrate a business purpose and a return on investment.
The two latest examples come in the form of mobile apps for selling cosmetics and a software solution for medical professionals to view imaging data in 3D.
In a Series A round of funding, Perfect Corp. has attained $25 million to go towards the development of their suite of AR and AI mobile apps.
China Creation Ventures led the funding round, joined by Yuanta Asia Investment, Extol Capital, and CyberLink Corp. The latter entity launched Perfect Corp. as a spin-off in 2015.
Led by YouCam Makeup for iPhone and Android, Perfect's apps have totaled more than 500 million downloads. The company has partnerships with more than 150 cosmetics brands, including EsteeLauder, L'Oréal Paris, and MAC Cosmetics, among others.
"We are thrilled to be working together with a great group of investors who share our vision of going beyond existing beauty industry models to bring a consumer experience that's fresh and exciting," said Alice H. Chang, CEO of Perfect Corp, in a news release. "Capital investment will drive further development of the cutting-edge applications that have attracted the attention of leading beauty brands, retailers, makeup experts, and media outlets around the world."
EchoPixel closed an $8.5 million Series A round of financing that will expand the company's commercial, regulatory, and research and development functions.
New investor Intel Capital led the round, with other new investors LAM Research and Binomial and existing investors Aurus Capital, Runa Capital, and Harris & Harris Group also participating.
The company's True 3D solution renders virtual models of patients' anatomy from scan data. Medical professionals are able to view the images with a special display and glasses and interact with the images via a stylus.
"Intel Capital invests in pioneering technologies," said Wendell Brooks, senior vice president of Intel Corp. and president of Intel Capital, in a statement. "We are excited to invest in EchoPixel and to see their technology transform patient care through the use of augmented reality."
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.