Dublin, 29 July 2020 - We are excited to announce that we have raised €1.5million in a funding round led by Sure Valley Ventures, with follow-on investments from Atlantic Bridge University Fund and Enterprise Ireland. The funds raised will accelerate Volograms’ ambition to bring AR capture closer to everyone by helping it to integrate its technology into personal mobile devices. The mobile AR market is forecast to grow from the one billion compatible devices and over $8 billion in revenue in 2019 to 2.5 billion compatible devices and $60 billion in revenue by 2024.
Commenting on the investment, our CEO Dr. Rafael Pagés said, “We are really excited that Sure Valley Ventures has joined our journey, together with Atlantic Bridge and Enterprise Ireland. We are now ideally positioned to continue growing our team and scaling our technology. Having a real person in AR or VR unleashes the full potential of these technologies as it makes immersive experiences more human. Our volumetric video technology helps creators blur the lines between real, augmented, and virtual realities. This investment will allow us to continue towards our mission to bring this technology to everyone.”
Sure Valley Ventures Managing Partner Barry Downes said: “This is another step in our strategy to provide our investors with exposure to high growth, futuristic technologies, such as Volograms. The mobile Augmented Reality market is experiencing significant growth. Volograms’ ground breaking technology will enable mobile phone users to take AR pictures and videos, then view, edit and share them with others. This can be done directly or through social media platforms.“
He went on to add: “The technology behind this new mobile “AR camera” has been developed by a team that are already world leaders in the field of volumetric high-end dynamic AR content. We believe that Volograms is opening a new market category for AR photos and video. This category will have much greater appeal for content creators and social media users than the existing static 3D content solutions on offer. Volograms’ technology will usher in the rapid expansion of the mobile AR industry. We are delighted to back the talented Volograms team and partner with Atlantic Bridge and Enterprise Ireland to help them to revolutionise mobile AR.”
Atlantic Bridge Venture Partner Chris Horn commented: “Volograms is extremely well placed in the Augmented Reality market with leadership technology. Sure Valley Ventures has a strong record in successfully backing emerging leaders in virtual reality software companies, and we are delighted that they are joining with us to grow Volograms into a global leadership position.”
Our technology has helped professional content creators take storytelling to the next level by providing an accessible solution for volumetric video creation of real-world human performances. This fresh round of funding by Sure Valley Ventures will drive the company towards achieving its mission to bring volumetric capture closer to everyone and empower them to create their own immersive content with humans.
We will now be expanding our technology team with some critical hires to help achieve our mission and will be hiring from a larger pool of global talent due to flexibility with a remote setup. Check out our careers page for more details.