Irish-based immersive technology company, Imvizar, recently secured a funding worth €1.5 million to roll out its augmented reality (AR) development software, Lureo, and support its market entry in the US. Investors behind this funding round included Delta Partners VC and a number of reputable individuals such as ex-Meta Ireland top executive Gareth Lambe, Pigsback’s Michael Dywer, former head technology officer of Ooredoo Nigel Byrne, and Enterprise Ireland.
Founded in 2021 by Michael Geurin, Imvizar’s goal is to democratise AR storytelling tools, making them available to creators globally. The start-up creates compelling experiences for the tourism and entertainment sector, vividly animating characters and scenarios. The company currently collaborates with numerous tourism sites, influencers, artists and educational institutions, seamlessly blending technology with narration.
Their tool, Lureo, enables just about anyone to develop high-quality AR experiences, regardless of their technical competence. Lureo is a user-centric tool, catering to a wide array of creators from film-makers to educators and marketers.
Michael Geurin remarked that their objective is to integrate spatial storytelling into the mainstream, making it as accessible as possible. He stated that Lureo aids in eliminating the hindrances to AR content creation, allowing every individual to create immersive experiences. Lureo is set to be at the forefront of a new digital age with spatial computing, mirroring how 4G and video streaming simplified content creation.
Since its inception, Imvizar has gained numerous clients such as Salesforce, Grant Thornton, and North Carolina State University, propelling high-end AR experiences in various countries including Ireland, the US, Portugal, and Australia. The investment will enable the company to pitch itself as a vanguard in the AR innovation sector.
Dermot Berkery, a senior partner at Delta Partners VC, expressed his excitement and belief in Lureo’s extraordinary potential to revolutionise the way we interact and create AR content. He anticipates Imvizar’s continuous evolution.
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