We have been waiting for this announcment for a while given our interest in the future of Augmented Reality (AR) and our connections to Ogmento team.
What is augmented reality? It is a technology that superimposes virtual data with views of the real world.
Ogmento, based in New York, announced that it raised $3.5 million in Series A funding. This funding is slated to allow the company to develop its AR game platform, expand operations in New York and Los Angeles and operate for the next 18 – 24 months. This round was led by Chart Venture Partners, with participation from CNF Investments and private investors.
While this is its first major round of funding, the company has already developed projects for Orange Telecom, SAP and others. In addition, Ogmento has several titles in development for release this year on iPhone, Android and several game consoles.
The future of AR is just beginning but with the recent explosion of Foursquare, Gowalla, other location based social games and Ogmento’s founding team (Brad Foxhoven, Brian Selzer, and Ori Inbar) this is company to keep an eye on. It is also an area where we may see several virtual world companies, such as CCP or Kaneva, may begin making entries into in the future.