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Augmented Pixels Raises $1 Million to Develop VR, AR Apps

The rise of augmented reality (AR) and virtual reality (VR) technology has provided a lot of opportunities for entertainment with mobile apps and videogames, but is also being used for new business propositions. Augmented Pixels, for example, is a company making AR apps that apply to the real estate industries and more, with plans to create VR apps for the Oculus Rift and Samsung Gear VR head-mounted displays (HMD) as well. Today the company has announced that it has raised some $1 million USD in seed funding.

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The funding round is led by The Hive, a co-creation studio focused on building data-driven applications. As a result, Augmented Pixels will relocate to The Hive’s headquaters in Palo Alto. Investors from Steltec Capital also join the seed round. Just what the company is working on for VR HMDs isn’t clear at this point in time.

“Since 2012 we have made a big step forward in creating augmented and virtual reality solutions for retail and real estate industries and can confidently say that our products surpass the rest of the market in terms of user experience,” said Vitaliy Goncharuk, CEO and co-founder of Augmented Pixels. “As the market for augmented reality and virtual reality technologies expands rapidly, many industries, including retail, real estate and interior design will be completely transformed and we will be the first to make this happen.”

VRFocus will continue to follow Augmented Pixels’ progress in VR, reporting back with any further updates from the company.