London Dynamics lands seed funding for product visualisation and AR platform
London Dynamics, a provider of product visualisation and augmented reality solutions to retailers, has announced a seed funding round of £1 million.
The startup, led by Michael Valdsgaard, former SVP Digital Transformation at Ikea, has built a client list including Bremont Watches, Colnago and Crate & Barrel.
The round, involving a group of family offices and angel investors, will see London Dynamics bolster its brand presence, sales and customer services team.
Valdsgaard, who launched the Ikea Place AR platform, says: “Only 5% of retailers are using augmented reality, meaning there is still an overwhelming majority of the market looking and wondering how to bring about an evolution in e-commerce.”
“We have developed the tech, launched it to market and gained some great traction.”
“We understand the current economic conditions and have built a business that is geared for sustainable growth, unlike many other startup software providers. With this foundation in place, now is the right time to accelerate. We are grateful to our investors for their continued support.”
Michele Calliari, IT Manager at Colnago, comments": “No other competitor came close to the world class 3D configurator that London Dynamics has provided to us.”
“Together, we have changed the cycling world and provided our customers with an amazing tool that enhances their e-commerce experience.”
Valdsgaard adds: “While there is clear need within the retail sphere to adopt change, 3D product visualisation and augmented reality has a far bigger part to play.”
“I am convinced that the internet is becoming three dimensional, and we serve the commercial infrastructure to enable that for any business.”
“Where the metaverse and the likes has only scratched the surface, 3D and augmented reality will provide a step change towards our digital future.”
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