Multinational security leader Prosegur has invested an additional 1.25 Million EUROS into the Munich and San Francisco based Augmented Reality start-up that provides enterprise customers content creation and remote expert solutions.
Following an initial 3.75 Million Euro (4.4 Million US Dollar) investment with BASF Venture Capital, this brings the total RE’FLEKT Series A investment to 5 million Euros ($5.7 Million US Dollars) as well as Bosch’s investment in the company in 2015. The investment aims to add value to the security sector with mature scalable technology that can improve and enhance daily activities whilst benefiting from the growth of AR across all enterprise markets.
“An investment partnership with a global leader in the security sector confirms our belief that the playing field of markets where Augmented Reality can bring added value is much larger than commonly considered. The security sector is yet another field where we see Augmented significantly impact improvements to enterprise workflows with accurate and understandable data visualizations. We are excited to use this investment to continue our strong growth in new markets and further invest in our team and products,” says RE’FLEKT CEO and founder Wolfgang Stelzle.
“Prosegur as an international leader in the security industry, is continuously looking for ideas to lead the tech-based product transformation in our sector. We are very excited to start our collaboration with RE’FLEKT as we see enormous advantages in bringing Augmented Reality to our operations. AR can add great value in all our three business units, Security, Cash and Alarms. We consider that Augmented Reality clearly stood out as a mature technology that will help us in training, daily operations and maintenance activities, solving daily obstacles in a simplified manner. Our investment justifies our belief in the added value of RE’FLEKT solutions within our organization as well as the future it holds to have a dramatic impact on the global industrial business market,” adds Javier López Huerta, Prosegur Tech Ventures, Managing Director.
RE’FLEKT has been developing its enterprise Augmented and Mixed Reality ecosystem since the company was founded in 2012. Recognised by ABI, Frost & Sullivan, Gartner, Microsoft and more, the technology company’s content creation platform and remote expert solution simplifies daily maintenance, training, and operation activities for industrial enterprise. This is achieved by intelligently projecting step-by-step instructions directly onto complex machines and systems using Augmented Reality. “The RE’FLEKT platform helps machine operators and maintenance personnel eliminate mistakes and significantly increase uptime,” says Wolfgang Stelzle, founder and CEO of RE’FLEKT.
Industrial companies use the RE’FLEKT Ecosystem to transform existing CAD drawings and data from traditional paper-based technical documentation into interactive Augmented Reality applications for mobile devices and smart-glasses. These applications can be used regardless of location to provide interactive user support and standardize learning and education for complex machinery and processes.
The 2020 global market potential for AR applications is estimated at more than one-hundred billion dollars. Market trends such as knowledge society, connectivity, and globalization are just a few of key factors that expected to drive the opportunity for enterprise AR solutions that improve communication and knowledge transfer.