Augmented reality (VR) company Blippar, whose app allows users to ‘blip’ items like Bank of England banknotes with its app to bring up AR features has announced the close of a new funding round. The Series D round led by Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia, closed at $54 million USD recently.
The funding, which included follow-on investment from previous investors will allow Blippar to grow its engineering team and extend the global reach of its visual-browsing capabilities with the addition of a large range of new categories and content.
“2016 is poised to be the biggest year in Blippar’s history as we not only expand our breadth and depth as a business — across our team, technology capabilities and product offerings — but also reach new heights with our vision to become a true visual discovery engine for the physical world,” said Ambarish Mitra, Blippar Co-Founder and CEO in a statement. “This latest funding round will allow us to continue to capture top engineering talent, further grow our leading global install base, create one-of-a-kind campaigns for our brand partners, and achieve our vision for an era in which everyone has access to unlimited knowledge of the world around them, regardless of language or education.”
The company has already seen wide spread user adoption with a claimed global user base of over 65 million users. It’s partnered with some of the biggest brands in the world including Nestlé, Condé Nast, TIME Inc., Procter & Gamble, Kraft, Heinz, Universal Pictures, Coca-Cola, PepsiCo, Disney and Jaguar.
VRFocus will continue its coverage of Blippar, reporting back with any further announcements.