UK-based Blippar raises $54m for Asia expansion
Blippar, a UK-based developer of augmented reality, computer vision and artificial intelligence technology, has raised a $54 million Series D round to support its Asia expansion plans.
Khazanah Nasional, an investment fund controlled by the Malaysian government, led the round, according to a statement; some of Blippar's existing investors, who were not named, also participated. The new capital will be used to build the company's engineering team, improve its technology offering by adding new categories and content, and invest in user acquisition.
Launched in 2011, Blippar develops hardware and software to help computer systems analyze photographs and add user-relevant information to them. Its work so far has focused on partnering with brands such as Disney, Coca-Cola and Kraft to enhance their advertisements and packaging, but its goal is to provide pricing and availability data for all real-world items via intelligent analysis and searching of photos.
Blippar recently opened an office in Singapore, having established a presence in India and Japan more than a year ago. The company sees Singapore as a potential hub for Asia, due to its high level of development and the number of global brands with headquarters in the city.
Khazanah has supported a number of technology start-ups in Asia. Earlier this year it led a $160 million round for Hong Kong-based mobile lending and credit analytics platform WeLab, and last year it joined Zodius Capital in a $40 million Series A round for India-focused online lingerie retailer Zivame.
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