Caixa Capital Risc has co-led a round of financing in the seed phase, for an amount of 2 million euros in the Portuguese startup KIT-AR, dedicated to the development of augmented reality solutions for the industrial sector. The operation has also had the participation of funds Armilar Venture Partners, RKKVC and Techtree (managed by Iberis Semper), as well as with the follow-up investment of SINTEF Venture V and Best Horizon.
KIT-AR is a startup whose augmented reality technology for frontline workers allows for increased quality and efficiency in manufacturing and industrial production processes. Their solution leverages augmented reality and artificial intelligence to identify, track, and reduce production errors. Among the markets for which it works, the automotive, aerospace and electronics sectors stand out, among others.
With offices in the UK and Portugal, the company has a long history in the field of applied research and innovation, having grown out of University College London and SINTEF, Norway’s largest research institute.
Caixa Capital Risc’s entry into KIT-AR will help drive the growth and consolidation of the company as a benchmark augmented reality platform for workers in the industrial sector. Since its creation, the company has obtained several awards, such as the selection for the Emerging Business Accelerator Program Sony (Sony Startup Accelerator Program Europe), in addition to being the winner of the 5G Accelerator Program, promoted by Amazon.