In a significant financial move, GV, formerly Google Ventures, has invested $14.5 million in Blue Vision Labs, a London start-up poised to revolutionise the augmented reality (AR) industry. This infusion of capital underscores the transformative potential of the company’s innovative shared AR technology.
Founded in Oxford in 2011, Blue Vision Labs has developed technology enabling multiple users to engage in shared AR experiences. This has been identified as a critical missing piece in advancing the AR industry, which is anticipated to reach a market value of $83 billion by 2021.
Pioneering Shared AR Experiences
Blue Vision Labs addresses the limitations of current AR applications, which typically offer only single-user interactions with augmented reality content. By introducing a shared AR cloud, it allows multiple users to perceive and engage with the same AR environment concurrently.
This breakthrough technology enables the creation of city-scale, shared, and persistent AR experiences, offering new opportunities across various sectors. According to CEO and co-founder Peter Ondruska, this capability marks a pivotal advancement in the AR landscape.
The Origin and Vision
The concept of Blue Vision Labs was conceived by Peter Ondruska, Lukas Platinsky, Hugo Grimmett, Andrej Pancik, and Bryan Baum. Originating from the University of Oxford, their vision has taken seven years to materialise, forming the backbone of their current technological advances.
Ondruska highlighted that the investment from GV not only validates their vision but accelerates their mission to transform industries beyond just gaming, extending to automotive navigation and more.
“We’re only just scratching the surface of what our technology could bring to countless industries and sectors,” he stated, indicating the broad applicability of shared AR experiences.
Technology at the Forefront
Blue Vision Labs utilises cloud-based computer vision technology, which allows for the precise positioning of devices using visual data alone. This self-updating system creates 3D maps of entire cities, enhancing AR applications’ usability.
By leveraging such cutting-edge technology, developers can craft shared AR experiences with unprecedented accuracy and scale. The potential applications are vast, including enhancements in tourism, real estate, and urban planning.
The accuracy of location and shared experiences it provides makes it a formidable tool in technological development, setting new standards for AR capabilities.
Strategic Investment and Expansion
The $14.5 million investment led by GV, with participation from other investors like Accel, Horizons Ventures, and SV Angel, signals a robust vote of confidence in Blue Vision Labs’ technological and market potential.
This funding will fuel their expansion efforts, enabling them to recruit engineers, researchers, and product experts, thus strengthening their team for future challenges.
They are also focusing on developing their product further and building field operations teams in cities globally, ensuring their technology’s wide-reaching impact.
Potential Across Industries
The shared AR solutions promised by Blue Vision Labs have potential beyond gaming, extending into numerous industries such as automotive and urban navigation.
Their technology can revolutionise self-driving car navigation by providing precise location data, fundamentally altering how vehicles interpret their environment.
In gaming and entertainment, the possibilities for interactive and shared experiences are immense, paving the way for a new era of digital interaction.
A Catalyst for Future Developments
With Google Ventures’ backing, Blue Vision Labs stands at the forefront of the AR revolution, poised to catalyse future developments in the industry.
The shared, persistent AR technology opens doors to unprecedented collaborative possibilities, changing how users and devices interact within digital landscapes.
As industries adapt to this new capability, the boundaries of what is possible within augmented reality continue to expand, promising exciting developments on the horizon.
Vision for the Future
As they continue to innovate, Blue Vision Labs is set to redefine the possibilities within augmented reality, driving the industry forward with their cutting-edge solutions.
Ultimately, the strategic investment in Blue Vision Labs highlights a promising future for augmented reality technologies, underscoring the industry’s evolution towards shared, scalable AR experiences.