Search
Close this search box.

KIT-AR Announces 3.3 Million Euros in new Funding Round

London, February 26th, 2024 – KIT-AR, the cutting-edge augmented worker platform for the  manufacturing industry, announced today the completion of a 3.3 million euros funding round, co-led  by 3XP Global and Blue Crow Capital, along with follow-on investment from Sintef Venture V, Criteria  Venture Tech and Armilar Venture Partners (through its NOS 5G Fund and TechTransfer fund). This funding round positions KIT-AR to accelerate its growth globally, scale the team and advance its vision  to become the definitive platform for augmented workers in the manufacturing industry.  

Everyday, industrial brands across the world are realizing that reducing human errors is not only a  persistent competitive advantage, but essential to avoid unmitigated costs.” stated Manuel Oliveira,  CEO of KIT-AR. “Our platform offers these brands the opportunity to virtually eliminate these errors, mitigating potentially serious repercussions on their business.”. 

These repercussions go beyond an economic dimension, being detrimental to both the environment  and society. KIT-AR’s focus on addressing the cost of poor quality allows manufacturers to directly  contribute to a more sustainable world. 

Responsive Image

“KIT-AR supports industries minimizing errors and optimizing resource utilization, being therefore,  fully aligned with 3xP Global’s objectives. KIT-AR’s founders bring not only expertise in unlocking the  full potential of Augmented Reality tools but also a proven and robust market approach. Together, we  are committed to a sustainable path that generates significant value for all stakeholders” stated  Miguel Lemos, partner of 3xP Global. 

KIT-AR’s patented technology is a key enabler for manufacturing enterprises to facilitate the  digitalisation of their human-centered shopfloor. Since its inception, KIT-AR has been recognised for  groundbreaking innovation, from being selected by the Sony Startup Acceleration Program and the  Boeing Aerospace Xelerated Program, to more recently taking part of the Unicorn Factory, a unique  program aimed at scaling potential unicorns to fulfil their global potential. 

“What excites us about KIT-AR is how they apply cutting-edge augmented reality directly to the  manufacturing floor, tackling everyday challenges with innovative solutions. Their approach brings  tangible improvements to efficiency and workflow clarity, demonstrating the real-world impact of  their solutions. We’re proud to support a team that’s as grounded in reality as they are ambitious in  vision, and we’re eager to see their solutions make a difference in the industry. It was a great 

Manuel Oliveira (CEO and co-founder) and João Carlos Costa (CTO and co-founder).

investment opportunity that was presented to us, and we took it. Our focus is to support great  businesses with exceptional teams” shared Antonio de Mello Campello, partner of BlueCrow Capital. 

“We are redefining the current industrial revolution and we won’t stop here”, Manuel Oliveira further points out that “Our team, with its strong research DNA and talent to innovate, will continue to deliver  a plethora of reasons for manufacturers to adopt a more efficient, sustainable and human-centric  approach towards production. This is further enhanced by our strategic partnerships with PWC  Portugal and the biggest communications and entertainment group in Portugal, NOS, which will  strengthen our reach and value to the manufacturing market, in Portugal and beyond”.  

For more information, please contact: 

Manuel Oliveira 

Chief Executive Officer 

[email protected] 

+447886698917 

If you found this article to be informative, you can explore more current metaverse news here, exclusives, interviews, and podcasts.

The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Picture of Jake Vikoren

Jake Vikoren

Company Speaker

Picture of Deep Prasad

Deep Prasad

Company Speaker

Picture of Araceli Venegas

Araceli Venegas

Company Speaker

Jack Boreham

Jack Boreham is the editorial director and account executive at the Digital Twin Insider: the leading digital twin publication globally. Jack has been at the forefront of the platform's growth as a digital twin specialist - writing and advising projects in the Digital Twin space for over two years. [email protected]

Share this article:

Relevant

The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Picture of Jake Vikoren

Jake Vikoren

Company Speaker

Picture of Deep Prasad

Deep Prasad

Company Speaker

Picture of Araceli Venegas

Araceli Venegas

Company Speaker

Keep track of everything going on in the Digital Twin Market.

In one place.

Related Articles

Join Our Newsletter