Layar receives $14 million round of investment

Back in June, Layar the largest platform in mobile augmented reality (AR) with more than 1 million active users on Android, iPhone, and bada  struck up partnerships with handset manufacturers Samsung, LG, A Tier 1, and TCT Mobile/Alcatel.

Each of the four mobile phone vendors committed to pre-loading the Layar AR app on devices from their portfolio, ensuring presence on one in three smartphones sold worldwide this year.

Fresh investment

To that end, Layar has announced that it has secured $14 million (£8.8m) in a funding round led by new backer Intel Capital and existing investors Sunstone Capital and Prime Ventures.

Layar will use this fresh investment to continue developing relations, brands, the product and the platform, which already boasts thousands of developers and 1,500 separate layers.

"Augmented reality provides the richest experience on the mobile phone an experience as unlimited as our own imaginations,” said Raimo van der Klein, co-founder of Layar.

“This funding will help make these vast opportunities with AR a reality by providing our large ecosystem of content creators with the tools to build compelling and useful content."

Disruptive model

For its part, the new backer is happy for the opportunity to invest in a company and technology of the future right now. "Layar is changing how people interact with their environment,” said Klaus Konrad, investment director at Intel Capital.

“It offers an open platform for developers and users and we expect the creation of new and disruptive usage models."

[source: PR Newswire]