Blippar Lands $45m Investment, Led by Malaysian Government
- Wednesday, March 2nd, 2016
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Augmented Reality firm Blippar has closed a $54m (£39m) Series D funding round led by Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia.
The funding, which also includes money from Blippars existing investor base, will be used to expand its engineering team in San Francisco, grow its presence in the education sector and invest in user acquisition.
“2016 is poised to be the biggest year in Blippars history as we not only expand our breadth and depth as a business – across our team, technology capabilities and product offerings – but also reach new heights with our vision to become a true visual discovery engine for the physical world,” said co-founder and CEO Ambarish Mitra. “This latest funding round will allow us to continue to capture top engineering talent, further grow our leading global install base, create one-of-a-kind campaigns for our brand partners, and achieve our vision for an era in which everyone has access to unlimited knowledge of the world around them, regardless of language or education.”
The company appears to have been quietly trying to reinvent itself in recent months, with the acquisition of clothing try-on platform Binocular last year and a recent hiring announcement suggesting it wants to be seen as a digital media platform.