Israeli-based startup WakingApp a provider of tools for quick and easy creation of augmented reality (AR) and virtual reality (VR)content, today announced the raising of $4.3 Million USD in Series C funding led by Chinese tech companies including Youzu Interactive. The funding will be used toward expanding the company’s AR/VR platform offerings, ENTiTi Creator and ENTiTi Viewer, and expanding its sales, marketing and business development in the US and China.
WakingApp, has developed a AR/VR platform to enable any person – even those with no previous programming experience – to create interactive AR and VR content that includes live data feeds, high-quality 3D imaging and animation, and videogames. Content can be created and distributed through the ENTiTi platform and is accessible online on smartphones, tablets and leading smart glasses without the need for additional devices.
Udi Shani, CEO of WakingApp said in a statement: “Heading into 2016, we see a strong and growing trend in the manufacturing of smart glasses, but many don’t realize that these products cannot exist long-term, if there is no content available for them. WakingApp is the market leader in this space, as it was the first to enable accessible AR/VR content generation on all leading technologies and wearable devices.”
“For some time now, we have been seeking to invest in AR/VR technology, as it is on the verge of influencing every aspect of our lives. It is an industry that is projecting 13,000% growth in three years and revenues of $150 billion in five years,” said Daniel Chen Fan, Investment Director of Youzu Interactive. “What impresses us about WakingApp is its ability to overcome a great user barrier by simplifying the way one creates AR/VR content, and we plan to bring this revolution to the Chinese market.”
VRFocus will continue to follow the progress of WakingApp and the development of its AR/VR platform.