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Augmented Reality mobile app developer secures $3.4 million
Layar, an augmented reality mobile application developer, has raised $3.4 million. Prime Technology Ventures and Sunstone Capital were the investors.
In case you've never heard of Layar, the way it works is it makes use of the iPhone camera and compass so as you look through your iPhone screen, information is overlayed on top of objects you see on your screen. The company markets itself with a tagline "Browse The World!" A good use case for Layar would be for travel and getting information about old buildings around you, etc.
The startup recently had a few hiccups in its iPhone application which ultimately led to its removal from the App store. Not a good thing for Layar as it gave its competitors like Tonchidot and Metaio a better chance to shine in the augmented reality space.
Layar also offers an augmented reality platform which it said now is being used by over 2000 organizations in 70 countries. The company said in March of this year, it will add the functionality for publishers to be able to sell their content through Layar. Layar will facilitate global mobile payment processing and distribution in all currencies.
Layar also said it recently surpassed the 1 million user mark. Commenting on the funding, the startup said in a blog that it, "opens the door for mainstream business in the new medium of Augmented Reality."
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