ARtGlass, a Richmond, VA-based startup that provides augmented reality experiences on smartglasses to cultural and historic sites, closed a $1.3 million angel financing round.
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The startup attracted five of the Commonwealth’s largest angel and seed groups: Cavalier Angels (University of Virginia alumni), Central Virginia Angels, Charlottesville Angel Network, Trolley Venture Partners (Richmond area) and the Center for Innovative Technology (CIT) GAP Funds. Prominent business executives also invested as individuals.
The company will use the fund to bolster its proprietary software platform, enhance intellectual property and scale deployment to additional iconic historic and cultural sites in North America, said a Press release.
“We are pleased to report that our angel round was oversubscribed and it is validating to see interest exceed our present needs,” said ARtGlass CEO and co-founder Greg Werkheiser. “We’re thrilled to have gained access to a proven and diverse group of investors with entrepreneurial experience across multiple industries.”
ARtGlass is the first AR company in the world to dip its toe into the $28 billion Arts and Culture sector of tourism by introducing wearable Augmented Reality technology. More than 750,000 visitors at iconic museums and archaeological sites in Europe have enjoyed ARtGlass tours. Earlier this year, the company announced its expansion to North America. Last week, ARtGlass reached another milestone: their public launch at George Washington’s Mount Vernon, where tours are now available to the site’s one million annual visitors.
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“Cavalier Angels looks for companies with the right leaders at the helm, unique and defensible technology, strong unit economics and a clear go-to-market strategy,” said Rich Diemer, co-chair of the Cavalier Angels board. “The cultural sector is massive and ripe for innovation. This funding will accelerate ARtGlass’ growth, enabling the company to bring its technology to the mainstream of cultural tourism.”
