AR swim goggles-maker Form raises $8.5 million Series A [TechCrunch Blog]
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Source: TechCrunch Blog
Augmented reality has seen plenty of hardware failures, but investors are still interested in the platform’s potential to help consumers solve niche problems.FormThe Vancouver startup tells TechCrunch they’ve raised $8.5 million ($12M CAD) in Series A funding to continue scaling their augmented reality product into a major swim tech brand. The round came from a slew of investors including large family offices in the UK and Denmark as well as Silicon Valley Bank, the startup said.Form CEO Dan Eisenhardt has already had an exit in the consumer AR business, Recon Instruments, a biking and skiing AR goggles company that IntelacquiredThe AR hardware market has had a tough couple of years, general purpose AR has been a hard sell for consumers, leaving well-capitalized companies like Magic Leap forced to pursue enterprise and public sector contracts. Eisenhardt says that consumer aren’t ready for a general purpose device and that the AR market likely won’t mature “until the late 2020s.”“Ther
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