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AR Company Proxy42 Secures $2 Million Investment from Lenovo and iDreamSky

Proxy42, an augmented reality (AR) company specialising in laser tag experiences, has announced investment round lead by Lenovo Capital and Chinese game publisher iDreamSky securing $2 million USD.

The funding will help Proxy42 continue software and business development, as well as accelerate manufacturing capabilities of the Inceptor, a keychain-size device that attaches to and augments an iOS or Android smartphone via Bluetooth, which is used with massively multiplayer, first-person, action game Father.io.

Proxy42 - Inceptor

Proxy42 initially launched Father.io through crowdfunding site Indiegogo in 2016 raising more than $432,629 with 15,000 Inceptor units sold to more than 6,700 backers. Additionally, the company recently signed a deal with product developer and specialty retailer Brookstone, who’ll manufacture the Inceptor hardware and serve as the exclusive North American retailer and distributor for the product.

“This investment legitimizes our approach and the growing market demand for augmented reality experiences” said Francesco Ferrazzino, CEO and Founder, Proxy42, and inventor of Father.io. “We’ve created something special with Father.io and the Inceptor technology that activated thousands of consumers to back our Indiegogo campaign. Our vision of creating a more playful world is really taking hold through our AR laser tag game, and we look forward to making it a reality in the coming months with our new investors on board.”

“We’re actively looking to expand our business and invest in innovations in AR and VR that enable deeper, more immersive experiences in games and entertainment,” said Jeff Lyndon, President and Co-Founder of iDreamSky. “Proxy42 is at the forefront of elevating games to this new level by augmenting smartphones with Inceptor technology, and will surely fuel the development of a whole new slate of AR games for mobile.”

“We have a growing interest in the rising AR category, and Proxy42’s talent and impressive development of the platform drew us to the company,” said Dennis Song, the Vice President , of Lenovo. “Their Inceptor hardware has the potential to create an ecosystem of AR experiences using the power of the smartphone that we all already own, making AR more accessible to consumers worldwide.”

The Inceptor will be available to the public later this year at Brookstone stores and online, while Father.io will launch for free on Google Play and the App Store.

For further updates on Proxy42, the Interceptor and Father.io, keep reading VRFocus.