Scope AR closes funding $9.7M to Expand Enterprise AR Platform
Enterprise AR platform maker Scope AR (AREA member) has closed $9.7 million Series A funding round. The funding will enable the company to extend the reach of its enterprise AR products, such as hands-free workflow guidance platform WorkLink and AR telepresence solution Remote AR, for mobile devices and AR headsets like HoloLens.
“AR is becoming an important tool for how knowledge is shared within heavy industry, allowing workers to get the information they need, when they need it, in an intuitive way,” said Scott Montgomerie, CEO and co-founder of Scope AR, in a statement. “We are thrilled to have the support of our new and existing investors to accelerate our growth and development during a crucial inflection point in the market. It underscores, yet again, that enterprise AR is a leading driver within mixed reality thanks to the impressive ROI and growing list of use cases the technology enables.”
According to the company, some of the brands realizing efficiency gains and cost savings from Scope AR’s WorkLink and Remote AR products are Lockheed Martinand Unilever. With Remote AR, Unilever claims a 50% reduction in downtime, and Lockheed Martin reports that it has reduced overall training time by 85%, according to Scope AR.
The company has now raised a total of $15.8 million in capital. Romulus Capital led the latest round, with existing investors SignalFire, Susa Ventures, Haystack, New Stack Ventures, North American Corporation, and Angel List also participating. In addition, Krishna Gupta, founder and managing partner of Romulus Capital, and Wayne Hu, managing director of SignalFire, will take seats on the board of directors overseeing Scope AR.
Read more at Next Reality.