Reality Zero One has raised a £285,000 in Seed funding to launch its new augmented reality (AR) and virtual reality (VR) platform.
The startup is developing a platform that captures real-life objects in ‘ultra-high-definition’ 3D for use in virtual, augmented and mixed reality.
The majority of the money came from the British Robotics Seed Fund, an investment fund specialising in UK-based robotics startups. The Startup Funding Club, the London Co-Investment Fund and a number of angel investors also contributed.
Reality Zero One uses an IoT enabled 3D capture device, software and cloud computing infrastructure to enable users to capture, create and publish 3D objects at the push of a button – the company has shared an example of how a augmented squash looks when using its tech.
With the virtual/augmented reality market predicted to hit $215bn by 2021, potential demand for the tech is huge. However, the high cost and difficulty of mass 3D capture has put potential users off, the company says.
Reality Zero One’s founder Rob Eastham claims that’s all set to change: “This last decade, we’ve seen a spectacular fall in the cost of reading a single genome. We’re about to see the same thing happen to the cost of creating digital replicas of real-world objects.
“Our platform fills a clear gap in the market for creating ultra-realistic simulated 3D objects that are ready to use in any VR or AR environment.”
Its first test system was shipped to an early test partner at the end of March, and the founders say the latest funding will be used to refine and prepare the platform for market.
Dominic Keen, founder of The British Robotics Seed Fund and CEO of Britbots commented on the funding: “The opportunity open to Reality Zero One is huge.
“We are keen to see more British companies take a share of this market and under the sound management of Chris and Rob, together with their innovative platform, we see a bright future for the company.”
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