AR startup eyecandylab raises $1.5 million from investors

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Munich- and San Francisco-based eyecandylab, a startup that uses videos as a trigger for interactive augmented reality (AR) content for media, entertainment, sports and commerce enterprises, has raised $1.5 million in seed funding from a group of investors.

Quick read

➨ Munich- and San Francisco-based eyecandylab raises $1.5 million in seed funding

➨ Investors include Silicon Valley’s Band of Angels and LG Technology Ventures

➨ The startup’s plans include the launch of a 5G service in South Korea later this year

➨ Industry experts join its advisory board to support expansion plans

The story

Silicon Valley’s Band of Angels, LG Technology Ventures, an investment arm of South Korea’s LG Group, and other angel investors supplied the funding to eyecandylab, whose platform is poised for entry into new markets in Asia and expansion in the US.

The startup’s plans in Asia include the launch of a 5G service in South Korea later this year in partnership with LG Uplus.

Keeman Seoh, vice president of the strategic alliance and global partnership unit of LG Uplus, said: “As the leading provider of innovative services in 5G, we are thrilled to offer relevant use cases to our consumers.”

“Eyecandylab’s technology is a perfect differentiator and we are looking forward to taking the next step to extend our leadership position.”

Videos as a trigger for AR content uses videos as a trigger for AR content on consumer mobiles and smart glasses. 

The platform integrates into existing apps and enables enterprises from media, entertainment, sports and commerce—existing customers include Viacom, NBCUniversal, WWE and Softbank—to drive user engagement and tap into new revenue streams by providing an interactive AR layer around screens.

To support its expansion plans, eyecandylab has added industry experts to its advisory board, including AR and spatial computing expert Tom Emrich, Deutsche Telekom’s director of immersive technology, Terry Schussler, and Andy Gstoll, the former chief marketing officer of Wikitude and founder of Mixed Reality I/O.

Robin Sho Moser, chief executive officer of eyecandylab, said of the funding and new partners: “I am excited to have such amazing partners with us, to support our vision of the interactive future of video entertainment. The entire eyecandylab team is looking forward to igniting the next stage of our company.”

Schussler said of the startup: “eyecandylab is on track to take advantage of the convergence of 5G, XR and next generation broadcast video. It is a perfectly targeted use of technology to realise the massive potential business that will come from blending traditional video content with interactive XR experiences.”

Emrich added: “I have been consistently impressed by the product growth and traction eyecandylab has demonstrated since I met them in 2017. The team behind this company, led by Robin Sho Moser, is exceptional and I am excited to join the advisory board to help them continue to succeed in making augmented reality a reality in the consumer space. eyecandylab could be one of these critical use cases for mass adoption in consumer AR.”

Image credit: eyecandylab