Augmented reality firm gets $1m cash injection
LONDON - Specialist augmented reality firm Layar is set to get a cash injection of more than $1 million.
VentureBeat reports that the company that created the Layar Reality Browser is about to finish a round of fundraising from unnamed European investors.
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Augmented reality campaigns are still expensive to create and marketers on the whole remain unconvinced about the return they deliver on the investment. A report published the week by ABI Research, however, estimates that the growth in uptake of smartphones will result in marketing spend on augmented reality campaigns leaping from $6 million (£3.7 million) this year to $350 million in 2014.
The Layar platform works by turning any mobile database with geo-location information in to a content layer, and works on phones running the Android and Symbian operating systems. It allows developers to create augmented reality experiences by "tagging" images viewed through the mobile phone camera. Tags can be made to appear three dimensional.
Layar said last month that around 500 developers are working on layers, while the app has been downloaded over 100,000 times.
Augmented reality is getting cash backing
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