Enterprise AR is a sector witnessing considerable development and flourish currently, compared to the consumer AR.
Scope AR, an enterprise AR platform creator has realised the potentially high ROIs to be obtained from developing this form of technology. It has recently concluded a Series A funding round that produced funds of $9.7 million.
The new funding will drive the expansion drive of its enterprise augmented reality products. Some of the standout AR products include the hands-free guidance programme WorkLink, and Remote AR, which is a enterprise AR telepresence offering for HoloLens-like headsets and mobile devices.
Scott Montgomerie, co-founder and CEO of Scope AR, expressed that augmented reality has become a vital medium for influencing changes in knowledge sharing in heavy industry scenarios. According to him, the technology has empowered people to find an intuitive way of grabbing information whenever and wherever they need. Montgomerie revealed that the company was excited to gain the support of its current investors and new ones, for driving up development and growth activities during an important phase in the market. He believes that enterprise AR has become a key mixed reality driver due to the ROI potential and large selection of use cases.
Scope AR has revealed that a few influential brands which are able to make considerable cost reductions and raise efficiency through the Remote AR and WorkLink products include Unilever and Lockheed Martin. Unilever has utilised Remote AR to reduce downtime by 50%, while Lockheed Martin has managed to reduce training duration by 85%, as per figures revealed by Scope AR.
Scope AR has been able to raise $15.8 million in total capital. The latest investment round was led by Romulus Capital, and witnessed participation from existing investors Haystack, Susa Ventures, New Stack Ventures, SignalFire, Angel List, and North American Corporation. New developments include Romulus Capital founder and managing partner Krishna Gupta, and SignalFire managing director Wayne Hu, have stepped into the board of directors group responsible for Scope AR.
Gupta remarked that enterprises are waking up to the reality that utilising augmented reality in combination with other remote solutions can solve pre-existing operational difficulties. Some challenges according to him were minimising downtime and reducing the gap in skills.
He further elaborated regarding the development, stating that the vision and product leadership of Scope AR has catapulted the company as an industry leader. The enterprise AR developer has provided tools that enable workers to instantly gain access to process critical data and information. This helps in solving operational problems with greater accuracy and agility than before. Gupta revealed that his company was upbeat regarding the prospects of product development and opportunities for growth provided by Scope AR, as it dealt with some of the most prominent enterprises worldwide.
Enterprise VR might be lacking the prospects of gaming and entertainment which are made possible by the consumer smartglasses prospects from Google, Apple, Facebook, Magic Leap and Snapchat. Yet considerable developments are expected in this domain.
