Blippar, a British augmented reality (AR) and artificial intelligence (AI) start-up has raised $54m from investors, led by the strategic investment fund of the Government of Malaysia. The app allows a user to point a smartphone at an object to glean detailed information, including brand promotions and nearby shops. The business model relies on helping brands advertise and interact with consumers when they "blip" products. "In the last 50 years brands have never got data about what happens to their products in the real world. We are the only people giving them that data," said the company's founder and CEO, who sees the company co-existing with search giants like Google. With 65m users and 1k brands on-board, revenues have grown 200 percent YoY.
Blippar, a British augmented reality (AR) and artificial intelligence (AI) start-up has raised $54m from investors, led by the strategic investment fund of the Government of Malaysia. The app allows a user to point a smartphone at an object to glean detailed information, including brand promotions and nearby shops. The business model relies on helping brands advertise and interact with consumers when they "blip" products. "In the last 50 years brands have never got data about what happens to their products in the real world. We are the only people giving them that data," said the company's founder and CEO, who sees the company co-existing with search giants like Google. With 65m users and 1k brands on-board, revenues have grown 200% YoY.