KIT-AR: production line augmented reality startup raises £1.7m
Augmented worker platform KIT-AR has secured €2m (£1.7m) in a seed funding round co-led by Armilar Venture Partners and Caixa Capital Risc for its production line tech.
Augmented reality (AR), which overlays graphics onto the real world via a screen or glasses, is being embraced by some areas of the manufacturing industry.
London-based KIT-AR uses AR along with artificial intelligence (AI) to help employees on a production line to spot, track and minimise production errors.
The company says that its AR technology can be used within the automotive, aerospace and electronics manufacturing sectors.
“We hear about the perils of automation and the rise of the robots, but the reality is less drastic. Augmented workers are already developing synergies between man and machine to harness new strengths and overcome their shortcomings,” said Manuel Oliveira, CEO, KIT-AR.
Founded in 2018, KIT-AR was originally spun out of University College London and Norwegian research institute SINTEF. The company has offices in both the UK and Portugal.
João Dias, principal, Armilar Venture Partners, said: “Frontline workers of industrial companies are being faced with increasing challenges, particularly having to execute more complex instructions in less time, potentially generating production downtimes and defects. Augmenting those frontline workers with tech-based tools is crucial.”
Portugal-based venture capital firm Armilar Venture Partners invests in early-stage deep tech companies.
The seed also saw contributions from RKKVC, the Techtree fund as well as previous investors Sintef Venture V and Best Horizon.
In 2021 UK virtual reality firms attracted a record investment of £154m.
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