Russian developer of augmented reality Piligrim XXI attracted European investor
The company Piligrim XXI, a Russian developer of a platform augmented reality in tourism and finalist in the startup accelerator GenerationS from the RVC, has announced the sale of a quarter of its assets of the Spanish company Way2Wow. The purpose of the transaction is a business combination and the creation of a strong international team to enhance the technological capabilities and exploration of new markets.
The company Way2Wow works on the corporate market in Europe and offers comprehensive solutions using interactive technologies, in particular VR, spherical video, aerial photography, and VR accessories.
The Spanish investor's share previously owned by the Fund pre-seed investment of Saint-Petersburg, which in 2014 first invested in the development of Piligrim XXI project is at the stage of pre-seed. During this time, the project launched a full-scale 7 parks augmented reality in 5 countries of Europe and also made a qualitative leap in the improvement of AR technology, what interested and Spanish partners.
Piligrim XXI specializes on of augmented reality solutions, which can be used in the tourism industry. In particular, the developments allow the company to create a full-scale reconstruction of lost architectural structures and events of the past in historical places, forming new travel routes around the world.
"For us, a new round of investments is a possible to achieve the main objectives, - says Ilya Korguzalov, co-founder of Piligrim XXI – First of all, we are planning in the near future to complete the development of the platform remote positioning and control of the augmented reality object. This will allow us to offer the market a simple and versatile tool for working with this advanced technology. In addition, the potential of our new partners, promotes a more active promotion of the project in the EU. Now, we jointly are looking for strategic investor who will help the company to create a recognizable brand on the global market, in particular, to launch extensive network of augmented reality parks around the world."
Daniel Gildea, co-owner of the company-investor, said that the acquisition of shares in the project Piligrim XXI will enrich their interesting technological products and visual solutions: "the Development team in the field of augmented reality is very impressive on the European market. We made a serious monitoring of the AR industry and the most promising today seems to us to be working with Russian developers. They are professional, qualified, and able to think creatively. I am confident that the joint business will bring real benefits to both projects".
In 2014, startup Piligrim XXI took part in the accelerator technology startups GenerationS organized by RVC. The project has entered the top three among the participants of the acceleration program of the IT track and also received awards in special nominations and Intel Lenta.ru.
International company Way2Wow registered in Spain. Is the Creator of a fundamentally new channel of communication for European companies. Solutions are based upon modern approaches to visualisation and VR technologies.
GenerationS — the largest accelerator of technological projects in Russia and Eastern Europe, and the first Federal platform for the creation and development of corporate acceleration. Held by RVC in 2013. GenerationS 2015 attracted a record number of applications — from 2566 projects from 14 countries. 141 the project was selected to participate in the corporate accelerators in 7 directions. Customers and industrial partners began more than 20 GenerationS of Russian corporations in whose interests were selected and the acceleration of startups. The results worked out more than 60 joint projects. The total value of the prizes from the partners of GenerationS amounted to 160 million rubles.
JSC RVC — the state Fund of funds and a development Institute of Russian Federation. The main objectives of activities of JSC "RVC": to stimulate the creation in Russia own industry of venture investment and the performance of the functions of the Project office of the National technology initiative (NTI). The authorized capital of JSC "RVC" is more than 30 billion rubles, 100% of the capital of the company belongs to the Russian Federation represented by the Federal Agency for state property management of the Russian Federation (Rosimushchestvo). The total number of funds created by JSC "RVC", reached 21, their total size of 32.4 billion rubles, the Share of JSC "RVC" — 19.9 billion RUB Number of invested funds RVC innovative companies has reached 196. Total volume of investments — RUB 18.4 billion.