Essex-based VR & AR start-up Admix has secured $2.1 million funding ahead of ambitious plans to double its team.
The seed round was led by Speedinvest with Suir Valley, Force over Mass and Founders Factory also pitching in.
The platform helps virtual and augmented reality developers make money from their products through non-intrusive advertising.
“Today, VR/AR developers have very few options to monetize their content: the few solutions that exist are intrusive and not adapted to VR/AR,” said co-founder and CEO Samuel Huber.
“This creates a lack of incentive for creators, which slows down the industry. Admix aims to grow the industry by creating the infrastructure to power a sustainable business model in VR/AR.
“Our non-intrusive advertising model respects the users, creates a sustainable economy for developers, and enables brands to stand out in a way that is impossible on existing, saturated channels.”
Founded in 2017, with Beta launched in early 2018, the company works with more than 100 creators and recently partnered with Yahoo and AOL’s parent company Oath.
The company employs 15 people and has plans to double in size over the coming year while also investing in developer outreach through the Admix Academy.
The academy boasts an online community, VR/AR Pioneers, which provides marketing resources to over 6,000 VR and AR developers.
Speedinvest partner Mathias Ockenfels added: “Admix is poised to capitalise on the imminent explosion of the VR/AR market.
“We are very impressed about their unique approach to building a community of VR/AR developers, and the technology they have built. We are delighted to be part of their journey to grow the industry.”