Knightstone Capital, the London-based investment firm, has acquired a 25% stake in Augmented Reality Creations Ltd (ARC), a tech start-up founded by three graduates.
ARC develops applications that enable businesses to create a better experience for their customers using a mobile phone or tablet rather than cumbersome Virtual Reality hardware.
The technology has been developed by computer science graduate Zack Tuff along with Kris Woolhouse and Andrew Clear, both from Exeter University.
The first product launch, Inplace, gives homeowners an explorable augmented reality 3D experience of their new conservatory, garden room and more – before they buy.
Co-founder Zack Tuff said: “The conservatory and garden room market is circa £1bn PA, but for years homeowners have had to rely simply on computer drawings to make decisions. ARC Inplace changes all of that, transforming these drawings into immersive 3D experiences using their mobile phone or tablet.”
Andrew Clear, COO and Co-founder, added: “Inplace enables home improvement firms and architects to give their customers a much better experience, increasing consumer desire and improving both sales conversion rates and order values.”
Knightstone Capital is a sector agnostic investment firm that acquires companies ready to exit or takes a significant stake in those ready to scale, supporting the founders on their journey to success.