A Newcastle augmented reality (AR) firm has secured a £3m investment deal to help accelerate its work in the 海角视频 and abroad.
Aircards was launched in 2020 to specialise in the use of AR to bring physical paper products, such as business cards and postcards, to life using its cutting-edge technology. The Tyneside business has 32 employees and has grown to become a leader in developing and delivering immersive experiences to a range of customers.
It takes brands’ visions and transforms them into AR, VR and XR experiences with CGI content and immersive billboards. Since its launch Aircards has worked with firms including Nike, L’Oréal, Diageo, Unilever, Louis Vuitton and Red Bull, creating campaigns for them in major cities, flagship retail, stadiums and cultural events around the world.
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Now Foresight Group, a regional private equity and infrastructure investment manager, has announced a £3m investment into Aircards Ltd. As well as its core production studio services, Aircards has developed two key products, Invisionary, an interactive displays product, and Metalitix, a data analytics tool. The investment will be used to accelerate growth across all three services.
Aircards said it will look to expand in-house fabrication to design and build physical environments that bring immersive experiences into the real world, from LED tunnels and interactive pop-ups to AR-enabled magic mirrors. The company has seen significant growth since its launch and says it has been looking for a partner to fund the investment required to scale current operations and develop its technology, but also to collaborate on its strategic journey.
The investment from Foresight is expected to create around 10 jobs over the next three years. To support the company’s growth plans, Euan Jarvie will join the team as executive chair. Mr Jarvie brings experience from the technology and media sector with previous roles including the CEO of Dentsu 海角视频&I. He will work closely with the management to aid its growth plans in the 海角视频 and overseas.
Michael Watson, founder of Aircards, said that with fresh investment and expanded capability, the company is positioned to deliver experiences that are more ambitious, more measurable and more unforgettable than ever before.
He said: “We are delighted to have secured the investment from Foresight, which marks a significant milestone in Aircards’ journey. Their support will enable us to accelerate our growth strategy, broaden our capabilities, and unlock new opportunities in the rapidly expanding immersive technology market.”
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Jordan Lavender, senior investment manager at Foresight Group, said: “Aircards has demonstrated strong growth since inception five years ago and Foresight is excited to support the highly talented team on their next phase of growth. The North East is home to many ambitious and innovative SMEs, and this investment marks a meaningful step in Foresight’s ongoing commitment to the region.”
Aircards was advised by Azets Corporate Finance and Muckle LLP, while Foresight was advised by Womble Bond Dickinson, UNW LLP, Gallaghers, Kryptokloud and Mosaic Island.