KIT-AR, a platform for augmented workers, successfully secures €3.3M in funding.
KIT-AR, a provider of an augmented worker platform for the manufacturing industry, this week, it was announced that a funding round of EUR €3.3 million has been successfully completed. The round was co-led by 3XP Global and Blue Crow Capital, who were joined by follow-on investment from Sintef Venture V, Criteria Venture Tech, and Armilar Venture Partners (through its NOS 5G Fund and TechTransfer fund).
Miguel Lemos, partner of 3xP Global, expressed that the founders of KIT-AR possess both expertise in maximizing the capabilities of Augmented Reality tools and a well-established and effective market strategy. They are dedicated to following a sustainable path that generates considerable value for all parties involved.
KIT-AR has stated that the funding round will assist in expediting the company’s global expansion, expanding its workforce, and furthering its goal of becoming the leading platform for augmented workers in the manufacturing sector.
Manuel Oliveira, the CEO of KIT-AR, stated in response to the announcement that industrial brands worldwide are increasingly recognizing the significance of minimizing human errors. He emphasized that this not only provides a competitive edge but also plays a crucial role in avoiding significant costs. Oliveira explained that their platform presents these brands with the chance to effectively eradicate such errors, thus mitigating the potential adverse impact on their business.
KIT-AR’s platform supports industrial workflows by helping to minimize errors and optimize resource utilization through the use of augmented reality. The company’s patented technology enables manufacturing enterprises to facilitate the digitalization of human-centered shop floors.
“I am impressed with how KIT-AR utilizes advanced augmented reality technology in manufacturing. They address everyday obstacles with creative solutions, resulting in greater efficiency and improved workflow clarity. Their practical approach proves the effectiveness of their solutions in real-life scenarios,” commented Antonio de Mello Campello, a partner at BlueCrow Capital.
The CEO of KIT-AR stated that their team, known for their research capabilities and ability to innovate, will provide numerous incentives for manufacturers to embrace a more efficient, sustainable, and people-oriented approach to production. This will be further supported by their partnerships with PWC Portugal and NOS, the largest communications and entertainment group in Portugal, which will expand their influence and benefits to the manufacturing sector both locally and globally.
