Ario Technologies, Inc., a Norfolk, VA-based creator of an augmented reality (AR) software-as-a-service (SaaS) productivity platform, closed a $2m venture capital round.
The round was led by NRV. Scott Tolleson, managing director of NRV, is the incoming Chairman of the company.
Ario has also been granted a $1.5m SBIR grant by the United States Air Force bringing a total of $3.5m in funding.
The company intends to use the funds to expand in the United States and internationally and its market traction, continuing to iterate on its product offerings.
Founded in 2016 by Joe Weaver, chief executive officer, and Nate Fender, chief operating officer, Ario Technologies provides augmented reality software tools for the industrial workforce. The company’s applications aim to increase productivity, connect data with equipment, decrease training time and capture knowledge. The platform is currently used by Fortune 500 companies.