XYZ Reality, a London, UK-based engineering-grade augmented reality company, raised £20m in Series A funding.
The round was led by Octopus Ventures.
The company intends to use the funds to prepare HoloSite’s commercial launch in the USA, continue investment in strengthening research and development, and grow its London team to include key hires across technology, manufacturing, sales and marketing.
Founded in 2017 by Founder and CEO, David Mitchell, Co-founder and COO, Umar Ahmed and Technical Co-founder, Murray Hendriksen, XYZ Reality provides HoloSite, an Engineering-Grade Augmented Reality (AR) solution designed to enable an on time and on budget delivery of construction projects. With its safety certified AR hardhat, cloud platform and in-built proprietary software, HoloSite positions high fidelity 3D design models on construction sites, enabling teams to build it right, first time. The technology system has been used on complex construction projects including data centres, pharmaceutical facilities and airports.
XYZ Reality also announced a new partnership with global consultancy and construction firm, Mace, for the construction of a hyper-scale data centre in Europe.