Mobilizy, a Salzburg, Austria-based company that develops and provides Augmented Reality applications for smartphones, has raised a venture funding of undisclosed amount.
The round was led by GCP managed fund Gamma III (www.gamma-capital.com), with participation from Tecnet Equity NÖ Technologiebeteiligungs-Invest GmbH.
Mobilizy’s platform is designed to enable users to receive additional information about the world around them by overlaying real-time data on top of the camera view of a mobile device.
The technology is applicable among others in the tourism or navigation industries.
Following its flagship product WIKITUDE WORLD BROWSER, the company introduced WIKITUDE DRIVE – the Augmented Reality version of a traditional navigation device.
The funds will enable the company to continue to develop its products, close large international distribution partnerships and expand into focused market.
In conjunction with the financing, the investors will join Mobilizy’s board.