AR Startup RealWear Raises $17 Million CAD After Moving To Vancouver
The Vancouver based startup wants another $3 million for their plans.
Virtual reality (VR) and augmented reality (AR) startups are getting more support than ever before from financiers and investors, and the industry’s worth just keeps getting bigger. In 2017 we saw investments in VR and AR technologies break records, and with several investments in companies already this year, it’s possible that 2018 might be the biggest year for VR and AR technology and development than ever before.
Now, yet another startup in the AR space has secured the necessary funding they need to continue operation and their ventures into new AR technologies and products. RealWare recently moved from their headquarters from Silicon Valley to a site in Vancouver, and has since raised $17 million CAD.
Oregon Live reports that the company hopes to expand to up to 100 employees by the end of the year, and despite the large amount of money invested thus far, RealWare are still looking for another $3 million to add to the pot.
RealWear create wearable specialised clothing for industry purposes. Waterproof, dust tight, drop proof and rugged pieces of equipment that incorporate AR technology, such as building site helmets with AR visors that allow users to view information and instructions while on the job, such as product maintenance, assembly and inspection.
The RealWear website says it’s technology has the “power of a tablet in a wearable form factor” and it’s the kind of technology that can really help busy employees working on the ground. The technology’s software uses Android OS, making it simple to download and APK file and installing it on an Android device.
When RealWear announced their Vancouver site, they said they would hire at least 20 people for the site, which is based near Fort Vancouver.
The eagerness for investors to spend money on RealWear makes sense, they offer a unique product that’s sure to only become more mainstream in industry use cases as time goes on. We’ve already seen how VR can revolutionise and change the construction industry, with designers and architects evangelising the new technologies and their potential uses. As we get more news on the latest industry uses for VR and AR technology, you’ll read about it on VRFocus.