West Coast Capital is a Private Equity Partnership that backs strong management teams in the retail, brands and property arenas.  They are to take significant equity positions in order to accelerate growth by funding both expansion and consolidation in these principal markets.

West Coast Capital

4J Studios is a game development studio with an extremely experienced core team of designers, technology & games programmers and artists, the company's ethos is to combine innovation, creativity and technical excellence with efficient production practices.

4J Studios

Paddy Burns and Chris van der Kuyl – co-founders of multiple award-winning games developer 4J Studios, best known for developing Minecraft for Microsoft, Sony and Nintendo games consoles established Chroma Ventures as a means of consolidating an investment portfolio focused principally on data-led businesses and those developing and deploying innovative technology. Chroma Ventures channels flexible capital into a range of early-stage and established businesses with high-growth potential.  Burns and van der Kuyl have been active supporters – both financially and practically – of a broad range of companies for several years, often in collaboration with other investors. Their portfolio includes direct investments that have grown into significant stakes in well-established businesses, such as global leader in cross-platform TV ad measurement TVSquared, cupboard stored ready meal provider Parsley Box, commercial insurance distribution and data platform Broker Insights, and indie game studio Puny Astronaut.  The Chroma Ventures portfolio also includes a number of indirect holdings through LVP, the venture capital seed fund for the games sector, Social Investment Scotland (SIS) Ventures, the impact investment fund backing mission-led enterprises, and Seedhaus, the pre-seed stage investor.

Chroma Ventures

Globalive is the startup studio and global investment firm of Anthony Lacavera. The Globalive partners and team of investment professionals led by Brice Scheschuk and Simon Lockie have over 100 years of startup, operating, and investing experience working with founders.

Globalive

Qualcomm Ventures is the investment arm of Qualcomm Incorporated. Founded in 2000, Qualcomm Ventures is a corporate venture capital fund with over 150 active portfolio companies and more than 20 exits over a billion dollars, including 99 Taxis, Cruise Automation, Fitbit, Invensense, NQ Mobile, Waze, and more. As a global investor, Qualcomm Ventures helps connect entrepreneurs to the resources, relationships, and deep industry expertise they need to succeed in the mobile technology ecosystem.

Qualcomm Ventures

Khazanah is the strategic investment fund of the Government of Malaysia, with 200+ investment professionals across 6 offices across Asia, North America, and Europe. Khazanah has investments in various sectors such as innovation & technology, power, telecommunications, financial institutions, healthcare, aviation, infrastructure, leisure & tourism, property, creative & media, and education.   Some of Khazanah’s strategic investments include the world’s 2nd largest hospital chain, Southeast Asia’s 5th largest bank, two of Asia’s largest telecommunications groups, and one of Asia’s top 25 airlines. Khazanah’s venture investments include Palantir, Alibaba, SkyScanner, Garena, Blippar, and 500 Startups. Khazanah applies a disciplined investment approach and aims to provide strategic value for all of its investments.

Khazanah Nasional

Candy Ventures is a portfolio of global companies and investments in the UK, Europe, and the US.

Candy Capital

Blippar

WaveOptics is a designer and manufacturer of diffractive waveguides for wearable Augmented Reality (AR) devices. The company aims to be the key optical component in wearable augmented reality devices.    WaveOptics was founded in 2014 and is headquartered in Abingdon, Oxfordshire.

Blippar is a technology company specializing in Augmented Reality and Computer Vision (AI). Blippar’s vision is to enhance everyday life with Augmented Reality and give you more from the world you see – more entertainment, more information, more value. Since 2011, Blippar has been pushing the boundaries of what is possible in AR and has helped thousands of brands, retailers and agencies use AR /AI across the consumer journey to deepen customer engagement, drive footfall and increase sales. Blippar gives access to an AR ecosystem with products and  professional services to meet specific business needs – from consultancy to AR creation tools that publish AR content within a client's own app or rich media banners (no app required). Blippar's technology has been used by world-leading brands such as PepsiCo, Porsche, Nestlé, L’Oréal, GSK, General Mills and Procter & Gamble to create exciting and award-winning experiences. Blippar has been recognized as one of the fastest growing companies by CNN, Forbes, etc. and listed 3 years in a row on CNBC's list of most disruptive companies as well as named top Business Innovator by Bloomberg and most innovative AR/VR company by Fast Company. Determined to steer the growth of the AR industry and champion this new consumer behavior, Blippar acquired Layar in June 2014, a pioneering AR company founded in the late 2000s. In June 2015, Blippar invested in smart specs company WaveOptics. WaveOptics is developing low-energy lenses that provide a live display for the wearer but can be fitted into ordinary spectacles frames.

UK-based Blippar offers WebAR SDK, a software development kit that provides businesses access to core AR functionalities, including real-time SLAM tracking and limitless image targets, to create their own AR experiences and add them to their apps and products. WebAR SDK is compatible with frameworks such as A-Frame and Play Canvas, and its customers pay for the service based on audience views or through a custom subscription plan. Blippar also offers a free, no-code AR experience creation platform, Blippbuilder, for non-technical users to create and publish AR experiences for mobile devices using its drag and drop tools. Blippbuilder is also compatible with MS teams.

Technologies bringing about a new reality

Extended Reality

Blippar Introduces Web-Based AR Ad Units

UK-based Blippar offers WebAR SDK, a software development kit that provides businesses access to core AR functionalities, including real-time SLAM tracking and limitless image targets, to create their own AR experiences and add them to their apps and products. WebAR SDK is compatible with frameworks such as A-Frame and Play Canvas, and its customers pay for the service based on audience views or through a custom subscription plan. Blippar also offers a free, no-code AR experience creation platform, Blippbuilder, for non-technical users to create and publish AR experiences for mobile devices using its drag and drop tools. Blippbuilder is also compatible with MS teams.Blippar’s in-house studio creates AR content and campaign strategies for businesses to drive customer engagement and brand awareness. As of January 2024, Blippar had delivered over 20,000 campaigns and had over 50,000 creators on its platform.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/26090">January 2024</a>, the company partnered with snack manufacturer Mars for Snickers' first-ever AR Super Bowl ad campaign, visible through the Apple Vision Pro headset.Its customers include prominent brands such as Google, Hulu, Dr. Pepper, OnePlus, Heinz, and Timberland.Funding and financialsBlippar, which was valued at USD 1.5 billion in 2015 with over 300 employees, laid off all its staff in December 2018 and filed for bankruptcy, after burning through ~USD 130 million in funds raised, because of an investor dispute that restricted Blippar from raising any additional funding. The company found life again in January 2019, when Candy Ventures, a previous investor, acquired all its assets in a patent sale to keep the brand operational. With the acquisition, Blippar pivoted its focus to B2B offerings from its previous focus on providing consumer AR experiences. 18 months after the patent sale, in March 2021, Blippar raised USD 5 million in a pre-Series A round co-led by Chroma Ventures and West Coast Capital. The company had 30 employees as of March 2021 and reported a 200% quarter-on-quarter growth in revenue during 2020 with its new turnaround plan.

Interplay Learning (Interplay) provides on-demand, interactive, and hands-on simulation learning courses for skilled trades, including HVAC, plumbing, electrical, solar, and facilities maintenance, through VR, mobile, and desktop applications. The learning courses also include simulated walkthrough videos where experts lead users through procedure guides methodically, with knowledge testing features and additional learning material such as wiring diagrams, equations, sample system configs, and charts at the end of each lesson. The platform also enables managers to track user progress.The company operates a subscription-based model with monthly packages for individuals (USD 54) and teams (USD 229), alongside a custom plan for larger organizations.In <a href="https://sp-edge.com/updates/33810">September 2024</a>, the company acquired Industrial Training International (ITI), enabling the company to provide immersive simulation training solutions for crane and rigging operations across various job sites.Key customers and partnershipsNotable customers include Tesla and Rheem Manufacturing. Interplay’s customer usage rose by 445% YoY in 2020. As of February 2021, the platform had over 2,000 customers and 110,000 users across the US.

Interplay Learning

Switzerland-based WayRay develops holographic AR technology and hardware for the automobile sector. Its technology is used in head-up displays (HUDs) that project images into a driver’s field of vision to assist with navigation. Although its initial focus was on developing HUDs that can be purchased and installed in any vehicle, it has since pivoted to producing embedded HUD systems (i.e., hardware built into vehicles). WayRay’s HUDs are considered to provide a wider field of vision and combine data (location and mapping information) with vision data to generate images by projecting a laser beam through a Picture Generating Unit (PGU) onto a Holographic Optical Element (HOE).&nbsp;In <a href="https://sp-edge.com/updates/18537">May 2023</a>, WayRay announced integration of its AR displays into Tesla Model 3's in Switzerland, with plans to follow shortly afterwards in the US. Previously, in September 2021 the company launched its deep reality system that replaces the traditional car dashboard. In addition, WayRay launched “The Holograktor” dubbed the first “metaverse on wheels”, which can be driven conventionally or using a remote control via a 5G and satellite connection (November 2021).&nbsp;The company’s founder and CEO, Vitaly Ponomarev, identified that its systems are more advanced, backed by more patents, and potentially 20x smaller than comparable devices in the market. WayRay’s HQ in Switzerland also acts as a product design and development hub, while its R&amp;D center and prototyping factory are based in Russia.&nbsp;Key customers and partnershipsThe company is backed by strategic investors such as luxury automaker Porsche, which highlighted the management’s expertise in space engineering, hardware, and software development as key reasons for its investment, Hyundai Motor Co., and Alibaba. It is also notable that these investors, particularly Hyundai, are looking at ways to potentially use WayRay’s technology to offer more services in the future. For instance, Hyundai believed that the technology could be used for smart cities and smart buildings, which are its new areas of interest.WayRay partnered with Karma Automotive, a producer of luxury electric vehicles, in December 2021 to support the implementation of its HUDs into their test fleet. Moreover, it partnered with a leader in designing and manufacturing specialty glass, AGP eGlass, in September 2021 to further proliferate its technology.&nbsp; Funding and financialsIt was reported in April 2021 that the company is considering a public listing at a USD 2 billion valuation via a SPAC, although no further updates on this have been announced as at January 2024.&nbsp;

WayRay

AmazeVR initially focused on developing VR technologies but pivoted to VR concerts in late 2019. The concerts are backed by proprietary 9K cameras and software that automate complex VR concert visual effects that run on more than 100 headsets simultaneously. Users join and hang out with other users as avatars while experiencing VR concerts. It intends to bring VR concerts by major artists to theaters and eventually, homes.AmazeVR rolled out its first commercial VR concert, which will feature 3x Grammy winner Megan Thee Stallion, in 2022. The artist is expected to tour select AMC Theaters across the US. It is also in the final stages of closing deals with its second and third artists. AmazeVR also revealed plans to release weekly content by 2024 in theaters and for at-home viewers.In <a href="https://sp-edge.com/updates/20145">July 2023</a>, AmazeVR launched its official AmazeVR Concerts app, featuring an exclusive VR concert from Swedish pop star, Zara Larsson. The app is available on major VR app stores, and the exclusive Zara Larsson VR concert can be accessed for a year at a launch price of USD 6.99. AmazeVR also produces and monetizes VR content on a subscription basis.As of August 2023, the company was in the process of producing and releasing mixed reality concerts by overlaying virtual elements onto live, real-world video.Funding and financialsThe company’s most recent funding was in <a href="https://sp-edge.com/updates/13338">September 2022</a>, when it raised USD 17 million in a Series B funding round led by Mirae Asset Capital. The fresh funds were allocated to expand partnerships with artists, artist management companies, labels, publishers, and agencies.

AmazeVR

Dispelix, based in Finland, designs and manufactures single-layer, full-color waveguide displays, a thin (about 1mm) transparent element that takes in a projected image and relays it to the eye, using a nanophotonics-based approach catering to AR applications (e.g., smart glasses). It uses laser beam scanning technology to render laser-sharp images with a gamut of color palettes, which are displayed using beam-combiner technology. Its patented and proprietary approach includes diffractive surface relief gratings, which are elements used for high-power laser applications, fabricated on high refractive index glass wafers that enhance field-of-view and image quality.The company had a total of more than 40 granted or pending patent families as of November 2021. Its product line, Dispelix DPX, includes Dispelix DPX - Ohut, Dispelix DPX - Selva, and Dispelix DPX - Sade with a varying degree of field of view, form factor, and weight. According to Co-Founder and CTO Juuso Olkkonen, its displays are the lightest and thinnest in the market.Key customers and partnerships 1) Collins Aerospace: to integrate Dispelix's advanced AR displays into Collins Aerospace's products (November 2024)2) Foxconn and Pegatron: to create reference designs for AR glasses based on its Selvä waveguide display (October 2023)&nbsp;3) VividQ: created a “waveguide combiner” which accurately displays variable-depth 3D content in a user’s environment (January 2023)4) ColorChip and Maradin: To further Light Beam Scanning (LBS) solutions for AR glasses (October 2022)5) Jade Bird Displays: To develop multiple reference designs for AR devices (June 2022)6) AAC Technologies: To improve waveguide displays for the AR and MR industry (March 2022)7) OQmented: for the development and commercialization of MEMS-based LBS technology (November 2021)8) Coretronic: To develop a range of AR optical module solutions (December 2020)9) Hoya Corporation: To improve quality of waveguide displays (November 2020)Funding and financialsIn its most recent funding round (November 2021), Dispelix raised USD 33 million in a Series B funding round co-led by Atlantic Bridge, CCB Trust, and Flashpoint with participation from Lifeline Ventures, VTT Ventures, and 3M Ventures. The funds were allocated to product development. It revealed that several OEM customers were slated to integrate its technology into their consumer offerings by 2023.&nbsp;

Dispelix

DigiLens is a developer of holographic waveguides, which is a clear, thin piece of glass or plastic, used for AR devices. In January 2023, the company launched ARGO, an XR smartglass designed for enterprise and industrial use, the first AR device to utilize Qualcomm’s SnapDragon XR2 platform. Other specifications included 6-degrees of freedom (6-DoF) tracking, a 30-degree field-of-view, spatial audio, a 48MP RGB camera, voice and gaze recognition, access to real-time data visualizations, and a 2,500-nits HD display.&nbsp;The company’s first product, the DigiLens Crystal was introduced in 2019, was a thin-film laser-etched photopolymer embedded with microscopic holograms of mirror-like optics. By projecting a micro display to one end of the lens and another set of optics working to guide the light wave toward the eye, this proved to be an ideal piece of hardware for AR devices, which are preferred with as little hardware as possible.&nbsp;It claims that its patented optical platform and photopolymer technology coupled with a holographic copy manufacturing process enable it to produce cheaper and more scalable solutions. In <a href="https://sp-edge.com/updates/17598">April 2023</a>, the company announced the launch of SRG+, a surface relief gratings product that improves upon its waveguide technology.The company generates revenue by licensing its technology across a range of industries including the automobile, enterprise, consumer, avionics, and military sectors. DigiLens also offers a white-label solution for automotive companies whereby it creates holographic waveguides for windshields that could offer in-cabin experiences for drivers.&nbsp;&nbsp; Key customers and partnershipsKey partnerships include that with1) Phantom Technologies: - Phantom Technology: To integrate Phantom's CASSI Spatial AI assistant into the DigiLens ARGO glasses, providing features such as spatial search, a contextual assistant, and task management using voice commands (October 2023)2) Wisear: To integrate its neural interface-powered earphones with the ARGO smart glasses (May 2023)3) Mojo Vision: To utilize Mojo Vision's micro-LED technology to build improved AR glasses (May 2023)4) Taqtile: To integrate the company's ARGO smart glasses with Taqtile's AR work platform, Manifest (May 2023)5) OMNIVISION: To develop new XR product offerings (January 2023)Other partnerships include that with OMNIVISION (January 2023), a leading global developer of semiconductor solutions to develop new XR product offerings. OMNIVISION’s liquid crystal on silicon (LCOS) panels allowed DigiLens to build LCOS/LED projectors optimized for its holographic waveguides. OMNIVISION's core camera technology provides DigiLens' devices with features such as visual odometry and six degrees of freedom.&nbsp;DigiLens also works with Taiwanese licensed waveguide manufacturer Young Optics, Chinese original design manufacturer and electronics supplier Malata, Korean display manufacturer Sekonix, international technology company Continental, Chinese optical elements manufacturer Crystal Optech, and Mitsubishi Chemical.&nbsp;Funding and financialsIn April 2022, DigiLens announced the second close of its Series D funding round (intiial close in November 2021) in which it raised USD 50 million at a valuation of USD 530 million. The funds were allocated for the development of DesignV1, its second-generation product.

DigiLens

Companies developing XR headsets and relevant sub-components (displays, sensors, and processors). Also includes complementary XR hardware (tracking devices, haptic vests, and gloves)

Companies offering engines that enable the development of AR/VR content, also includes companies offering capabilities to capture and create 3D images for immersive environments

Companies offering AR/VR solutions or toolkits for specific industry applications, including VR game developers

Companies offering location-based AR/VR experiences

AR/VR platforms offer remote assistance to field experts and headset manufacturers facilitate virtual work

Some solutions in the "content" segment are offered under a B2B SaaS model

Headsets and content segments provide the building blocks for the metaverse

AR, VR, and MR are the primary enabling technologies for the XR industry

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

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 Blippar, an AR content creation company, has teamed up with The Mars Agency to launch Snickers' first AR Super Bowl ad campaign. Accessible via mobile devices and soon, Apple Vision Pro, the campaign provides an immersive AR experience aimed at boosting user engagement. Users will be encouraged to take part in interactive activities like soccer practice and fortune reading, with chances to win prizes. The Apple Vision Pro version is set to go live on Super Bowl day, February 11.
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Blippar

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