Augmented reality mobile game specialist Ogmento scoops $3.5 million in funding
Firm planning for key releases
Augmented reality company Ogmento has picked up $3.5 million in its first round of funding.
Led by Chart Venture Partners with input from CNF Investments and other unnamed private investors, Ogmento has said it will use the money both to aid the development of its AR game platform and operations in New York and Los Angeles.
Firm foundations"This investment allows us to expand our operations to support our growth while putting development resources into our own intellectual property," says company founder and CEO Ori Inbar.
"Chart and CNF bring a strong track record of identifying disruptive technologies early, and working with founders to build strong companies."
Team buildingOgmento says its AR technology will be used in several key titles later in the coming year, while it will also gain several new team members as part of the deal.
It's already released a video teaser of one of its early games, a spelling title called Put a Spell: Learn.
Matthew McCooe of Chart Venture Partners and Joe Del Guercio of CNF will join the firm's board of directors, while Chart partner Cole Van Nice will join the management team as COO.
"We're thrilled to have this level of support from our investment partners," adds co-founder and president Brian Selzer.
"Given Chart's investment activity in hardware and software areas related to AR, they understand the true potential of this technology. Adding a partner to our management team is an exciting endorsement of our business."
[source: Ogmento]