Augmented reality
BASF Venture Capital invests in Re'flekt
BASF Venture Capital GmbH invests in the augmented reality startup Re'flekt, based in Munich and San Francisco. Following Bosch's investment in Re'flekt in 2015, BASF Venture Capital opens the Series A financing round with 3.75 million euros (4.4 million US dollars).
"The entry of two of the world's largest industrial companies shows our position in the market and the industry's trust in our augmented reality ecosystem. With the new financing round, we can continue our strong growth and invest in our team and products," says Re'flekt CEO and founder Wolfgang Stelzle.
"Digital technologies have a high priority at BASF. In the case of augmented reality, we see decisive advantages, for example in simulations, in communication or in digital learning, especially in the application and scaling in industry," says Markus Solibieda, Managing Director of BASF Venture Capital, and continues: "Through the partnership with Re'flekt, we create additional added value for our customers and increase the efficiency and effectiveness of many processes."
Since its foundation in 2012, Re'flekt has been developing an augmented and mixed reality ecosystem for industry. With a multi-award-winning content creation platform and a Remote Expert solution for remote maintenance, step-by-step instructions are intelligently projected onto complex machines and systems using augmented reality. "This helps to avoid errors and increase operating times," explains Stelzle.
The ecosystem enables industrial companies to convert their existing CAD data from technical documentation into interactive augmented reality instructions for mobile devices and smart glasses. These can be used anywhere in the world where interactive user support is helpful in service processes. However, it also offers advantages when it comes to facilitating and standardizing learning and thus training - by providing insights into the interior of machines and processes.
The global market potential for AR applications is currently estimated at around 100 billion euros by 2020. Megatrends such as the knowledge society, connectivity, neo-ecology and globalization are fundamental key factors that will drive the need for innovative, global yet simple AR solutions.
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