Spatial has acquired $14 million investments from its funding round, led by new investors, Whitestar Capital, and Kakao Ventures, along with the existing investor iNovia.
FREMONT, CA: Having earned the position of leading augmented reality video conferencing app, Spatial has acquired $14 million investments from its funding round, to improve its experience much more. The startup has raised a total funding of $22 million to date.
"With this funding, we're excited to carry on this tremendous momentum and continue to innovate our user experience until every organization around the world can work together seamlessly without the need to travel," said Jinha Lee co-founder and chief product officer, in a statement.
The latest funding round was led by new investors, Whitestar Capital, and Kakao Ventures, along with the existing investor iNovia. The participation of Instagram co-founder Mike Krieger, Baidu Ventures, and Zynga founder MarkPinus was also prominent. The investors who had keen interest previously include high profile names like Samsung Next and Macintosh co-inventor Andy Hertzfeld.
"Spatial's mixed-reality solution will be a key part of the future of work," said Krieger. "They're taking us beyond everyday tools like Zoom and Slack and pointing the way towards what conferencing and collaboration can be like if they were invented today, and I'm excited to support the journey."
Spatial allows multiple local and remote user collaboration across various platforms utilizing AR headsets like the HoloLens 2 and the Magic Leap 1. It is also compatible with the upcoming wearable devices that run on Qualcomm Snapdragon XR2 chipset as Spatial has also had a supporting role at their PR events.
The dedicated AR device wearers also have the opportunity to collaborate using the system via iOS and Android mobile devices, VR headsets, desktop computers. By using a wide array of hardware, Spatial has enabled its users to interact with 3D models, documents, videos, and other digital content in an augmented reality workspace. Some workspaces can also potentially utilize realistic 3D avatars, built from 2D photos.
"Last year, we saw a strong demand to collaborate in AR/VR from more than 25 percent of the Fortune 1,000, and we announced our first wave of customers such as Mattel, Purina/Nestle, and BNP Paribas," said Anand Agarawala, Spatial's co-founder and CEO.
Even Spatial has plenty of competitors in the AR remote collaboration space, including Avatar Chat and Mimesys from Magic Leap, Arvizio-similarly platform-agnostic, Spatial's user experience provides it a huge advantage over the others. The latest infusion of cash will enable the startup to develop its platform to full capacity.