Suir Valley Ventures invests in AR/VR ad-tech start-up, Admix
Suir Valley Ventures, the entrepreneur-led venture capital fund launched in partnership with Shard Capital Partners LLP to invest in early stage software companies across a range of high-tech verticals including FinTech, augmented/virtual reality (‘AR/VR’) and Internet of Things (‘IoT’), is pleased to announce its participation in a $2.1 million seed investment round for Admix.in (‘Admix’), a London based VR/AR ad-tech start-up.
- Invested as part of $2.1 million seed funding package which includes SpeedInvest, Force over Mass and Founders Factory as other investors
- Admix is a monetisation platform for AR and VR, empowering developers to generate revenue from content through non-intrusive, programmatic advertising
- Client list includes +100 VR/AR creators from large companies like High Fidelity to indie developers
- Several partnerships including one with Oath, the parent company of Yahoo and AOL
- Fast-growing sector with +500 million people anticipated to consume VR and AR content in the next five years
- Funds raised will enable Admix to develop its product, scale the business and advance Admix Academy, an online community of VR and AR developers
Suir Valley Chief Investment Officer, Barry Downes, said, “This is a great company, which is several steps ahead of its competition. Operating in the rapidly growing AR/VR sector, it has a first-mover advantage, as developers explore new options to monetise their content. We look forward to supporting Admix as it expands its operations in both the UK and USA and builds on its already leading position.”
Founded in 2017, London based Admix is a monetisation platform for AR and VR, empowering developers to generate revenue from content through non-intrusive, programmatic advertising. It is already working with over a hundred VR/AR developers to insert ad units and product placements into their content. Admix’s unique capabilities include automating the buying and selling of ads using real time bidding to large demand platforms such as Oath, the parent company of Yahoo and AOL, to generate instant and continuous revenue for developers. For advertisers, Admix is the only programmatic route to VR and AR, enabling them to use familiar targeting tools to reach a new audience via a new channel. Admix uses proprietary gaze-tracking algorithms to validate impressions, whilst maintaining anonymity to comply with the new GDPR regulations.
Admix operates in a fast-growing sector; Digi-capital, a leading Silicon Valley based AR/VR adviser, estimates that over 500 million people will consume VR and AR content in the next five years. Currently, developers have limited options to monetise their content; the few solutions that exist are intrusive and not adapted to VR/AR. Admix aims to create the infrastructure to power a new kind of advertising that respects the users and creates a sustainable economy for developers.
The $2.1 million seed funding round was led by SpeedInvest, with Force over Mass and Founders Factory also participating. Currently a team of fifteen, Admix has plans to double in size within the next 12 months. It also aims to aggressively grow the Admix Academy, which operates VR/AR Pioneers, an online community offering marketing and PR resources to over 6,000 VR/AR developers, and adding over 2,000 members per month.
This is Suir Valley’s seventh investment in inventive technology companies including: AIM listed educational VR business, Immersive VR Education; leading IoT cloud platform, Wia; reality games developer, WarDucks; IoT fleet and driver management systems company, ProVision; and Artomatix, a ground-breaking AI start-up delivering software for 3D content creation.
Admix.in is a monetisation and discovery solution for VR/AR, enabling developers to place non-intrusive ad units within their content. Admix is the first programmatic solution for immersive media, working with ad platforms like Oath, and generating instant revenue for the developers.
For more information on Admix or Suir Valley Ventures, please contact us.