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Librestream Targets Augmented Reality Growth with Recent Funding Boost

Librestream is targeting growth for its augmented reality (AR) worker enterprise solutions following the accumulation of $24 million Canadian ($17.7 million) funding from existing and new investors. According to the company, the Series D funding has raised its total financed amount to C$55 million.

The finances will go towards bolstering the company’s customer acquisition efforts and its growth across broader market spectrums. Librestream addressed that it is intent on making marketing and sales expansion drives a part of its new growth strategy. It also shed light on the prospect of growing its Onsight augmented platform.

The Onsight augmented reality platform from Librestream has been designed to function in rough environmental settings which include places with very low bandwidth. According to the company, Onsight, fuelled by central management, presents useful insights using dashboards and data analytics.

Onsight Connect is a remote expert solution offering a full-fledged cooperative environment for fast troubleshooting, inspection and fixing of field issues, based on what the company has revealed. It does so by using sophisticated IoT visualisation and artificial intelligence capabilities for generating data that improves decision making and informing models for machine learning.

Librestream augmented reality gets funding boost. Image source: librestream

The Connect application offers support for a wide range of devices including tablets, smartphones, smart glasses, and computers. Onsight CV, when paired with computer vision artificial intelligence, identifies digital image content and extracts identifying markers including objects and text, by utilising Object Character Recognition (OCR) detection and classification. The Onsight platform also has IoT visualisation features for informing decisions through the exhibition of accumulated IoT data from on-screen sectors. IoT visualisation lets workers access this information by using OCR and observing tables, graphs, charts for data.

The company has stated that Onsight is deployed globally and capable of scaling based on the requirements of businesses. It revealed that the platform is secured and controlled through infrastructure and backend management setups, enabling Connect to adapt to the strictest security and IT requirements of organisations.

Orica, an Australia-based firm offering modern blasting systems, commercial explosives, and other services, is one of the clients using Onsight technology. According to Librestream, Orica has been utilising its AR-based enterprise solution for enhancing the deployment operations for its new and sophisticated equipment, to remote places such as the mountainous areas of Latin America, South African plains, and Australia’s deserts.

Librestream said that Orica’s equipment is immensely specialised and its workers have to follow specific instructions for data capture. It informed that Orica’s use of Onsight is focused on enhancing the safety of workers, as the company deals with mining explosives. Librestream also revealed that Orica is also utilising the software for enhancing operational efficiency. Orica is also enthusiastic about using the Onsight platform for the identification of assets and offering remote assistance for its blasting products.

Librestream has reported significant growth over the past year and a half, which coincides with the prioritisation of immersive technologies and remote workforces for digital transformation. The company witnessed a rise of 250% concerning customer deployments.

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