UK-based augmented reality startup, Dent Reality, has raised £2.5 million in funding to invest towards its efforts to bring phone-based AR navigation into the retail sector. Pi Labs led the funding round that also saw participation from Europe’s Sugar Capital, Silicon Valley’s 7Percent Ventures, amongst other investors.
Dent Reality has been working towards creating an AR-driven indoor positioning system that could enhance the in-store experience for shoppers by guiding them across the facility using virtual paths and arrows.
The company was co-founded by Andrew Hart and Ben Rosenbaum in 2019. It had most recently worked with Marks & Spencer to test its indoor tracking application in the retailer’s Westfield London store in White City.
“The app helps shoppers find every item on their list, with real-time guidance and information to supercharge their experience,” said a statement from the company. “The potential of the technology is extensive and can be applied to campuses, airports, shopping centers, and museums, for example. Dent Reality’s waiting list currently includes hundreds of large organizations across a diverse range of different sectors.”
The company believes it can work in stores stocking over 40,000 items and incorporate several such stores for every retailer.
“Our vision is that every physical space will become digitally connected, enabling an entirely new type of interaction with the world around us. These ‘smart spaces’ will unlock rich information and transform billions of daily interactions for shoppers and retailers,” said CEO and Co-founder Andrew Dent.
“Right now, the biggest players in tech are working on building next-generation augmented reality wearables, and we’re building the killer consumer use-cases for this transformative technology. In the future, providing a frictionless digital experience in a physical location will become as essential for every business as having a website is today.”
The company plans to use the funds to grow its team and expand its services to add new stores and retailers as adopters for its tech.
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