AR Startup, Imvizar, Secures €800,000 Investment to launch Immersive Experience Platform
by Startacus Admin
Investment success for Augmented Reality startup Imvizar to support further development of its innovative AR technology and accelerate the company's global expansion.
Irish startup, Imvizar, has announced that it has secured €800,000 in seed investment from a group of prominent angel investors, Enterprise Ireland and Halo Business Angels Network, HBAN.
Among the investors are Gareth Lambe, the former Head of Meta (Facebook) in Ireland and Michael Dwyer, founder of Pigsback.com.
Imvizar provides immersive experiences for tourism and entertainment, collaborating with tourist attractions, artists, influencers and universities to blend tech and storytelling. Using cutting-edge augmented reality, Imvizar's experiences bring life-sized characters and environments to life around the user, creating an engaging and interactive way to experience the fascinating stories from that place.
Commenting on Imvizar’s pioneering approach, Mr Lambe said: "I am excited to be investing in Imvizar because I believe the company has created a truly unique offering, in a space I am very interested in. Imvizar's immersive AR experiences are revolutionising the way tourists engage with the history and culture of a destination, and I have no doubt that the company will continue to thrive and innovate in the years to come."
Founded by Michael Guerin in 2021, Imvizar has recently launched its innovative AR experiences in Ireland, the US, Portugal and Australia. In Ireland, Imvizar has launched experiences at popular tourist destinations including Spike Island, Sligo, Dublin, Waterford and the Kerry Way.
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The €800,000 investment was secured as part of an oversubscribed round and will be used to further develop Imvizar's AR technology and accelerate the company's expansion to more destinations around the world.
Imvizar has seen tremendous business growth in the past year. Recently opening new offices in central Dublin, the company has more than tripled its headcount in less than 18 months and is now hiring for leadership roles in engineering and sales to support its continued growth and success.
"We are thrilled to have received this investment, which will allow us to continue to innovate and create immersive AR experiences for a wider audience," said Michael Guerin, Founder of Imvizar. "We believe that our AR experiences provide a unique and exciting way for tourists to engage with the history and culture of a destination, and we are excited to bring this experience to even more people around the world. This investment is a strong testament to our technology, approach and Imvizar’s global scalability."
Imvizar has received strong support from the Local Enterprise Office and Enterprise Ireland since inception. They are poised for continued success and growth, taking the next step in its journey with the support of its new investors.
Imvizar was recently recognised in The Irish Times Innovation Awards and the startup is the only Irish finalist in the 15th annual SXSW Pitch competition, representing the most cutting-edge technologies from across the globe.
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Published on: 24th February 2023
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