Tuesday, November 29, 2016

Alibaba Invests in Israel's InfinityAR Start-up

Infinity Augmented Reality, a start-up based in Israel, announced US$18 million in Series C funding for its software-based Augmented Reality engine.

The round was led by the Alibaba Group, the largest online and mobile commerce company in the world in terms of gross merchandise volume, with participation from InfinityAR’s existing Series B investor, SUN CORPORATION, a large Japanese public company.


“This is about so much more than the funds raised - it is about the strategic partnership,” said Motti Kushnir, CEO of InfinityAR. “With Alibaba’s endorsement, InfinityAR will further cement itself as a leading developer in the augmented reality space. We are very excited to partner with one of the world’s leading companies.”

InfinityAR has pioneered its solution for augmented reality headsets by using standard, off the shelf, mobile cameras and IMU to efficiently map the environment while also enabling Inside-Out Marker-less Orientation and Positional Tracking (SLAM) for the augmented reality world.

http://www.infinityar.com/

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