DAQRI, a company that develops tailored augmented reality experiences for high-profile brands and companies, announced a $15 million private equity commitment led by Tarsadia Investments today.
The fresh batch of funding will be used to increase DAQRI’s existing engineering and design resources – thereby accelerating the development of its existing platform – as well as ramp up its sales team to find new clients in the United States and abroad.
A quick look at DAQRI’s demo reel instantly reveals why the company has attracted such a large investment. Using the on-board camera of a smartphone or tablet, the company is able to create unique and dynamic adverts tailored to any creative property or firm.
A magazine advert, designed to sell a Batman costume at a nearby fancy dress store, suddenly comes alive with a swarm of bats and a backdrop of Gotham City. An interior design article showing the perfect model home is suddenly shown as an interactive 3D model on-screen.
A skeleton rises from the page in a human biology textbook, while a tree rises from the cover of a University brochure. DAQRI is now working with the likes of 20th Century Fox and Sony to create promotional experiences that give DVD covers, books and album covers a novel an entirely new twist.
The company also offers a white-label solution that has already powered more than 1,000 augmented reality experiences, alongside a partnership with the interactive print solutions division at Quad/Graphics that has been used to develop innovative marketing campaigns for LEGO, Maxim and Smithsonian, among others.
To coincide with the new funding announced today, DAQRI has also appointed Troy Carter, founder, chairman and CEO of Atom Factory, to its advisory board.
“We’re at the forefront of a technology revolution that will change the way people see the world,” said Brian Mullins, founder and CEO, DAQRI. “As an industry we have just begun to scratch the surface of what Augmented Reality is capable of, and with Troy joining the advisory board, consumers will likely see more innovative marketing and entertainment-focused campaigns in the future.”
DAQRI will be offering its product as an industry-recognized platform, rather like Adobe Photoshop, to other creatives to help any brand or company launch an app with some form of augmented reality experience.
To this end, it plans to make its technology available to new licensing partners and wants to open its platform up to a larger number of content creators. DAQRI will even support Google Glass “from day one” with a new workflow and publishing tools to help customers get their content onto the new hardware.