Maveron and Lightspeed Venture Partners Lead $8.6 Million Funding in Illumix to Transform AR Gaming
MENLO PARK, Calif.--(BUSINESS WIRE)--Sep 18, 2018--Illumix, an integrated gaming and technology company transforming the future of mixed reality with environmentally-intelligent, world-scale augmented reality (AR) games, today emerged from stealth mode and announced its raise of $8.6 million in seed funding led by premier venture capital firms Maveron and Lightspeed Venture Partners. Radar Partners, Unusual Ventures, and 451 Media, co-founded by Michael Bay, also invested. The raise is a testament to both the company’s ability to execute on the full potential of mobile AR through custom technology, and their exceptional team of computer vision and gaming experts.
According to the 2018 Newzoo Global Games Market Report, the gaming market continues to grow as new modes, styles, and platforms become available. For the first time, mobile gaming will contribute more than half of all revenues, with smartphone and tablet gaming growing 25.5% year-on-year, to $70.3 billion USD. This makes mobile both the largest and fastest growing gaming sector, with AR games a high-growth sub-sector.
Illumix is developing and publishing top AR games that unleash the full potential of mobile devices. The company integrates across both technology and content to take a targeted approach to game development that puts the user experience front and center. Illumix’s process, pipeline, and infrastructure combine best-in-class AAA gaming practices and performance with cutting-edge R&D in computer vision, deep learning, and mobile AR.
The company will release both an original IP in addition to a licensed game in 2019. These games dynamically adapt to space by leveraging Illumix’s custom AR technology, which understands and interacts with a player’s environment in real-time, at home or anywhere else, without the need for pre-mapping the space.
“AR will drive the next transformation in how we view the world and our role in it. Illumix will give people freedom to break through to a larger, more unlimited reality,” said Kirin Sinha, founder and CEO of Illumix. “Illumix takes AR games beyond tabletop or geolocation by understanding and using the space around players more completely than ever before. More than developing only technology, our team is creating meaningful, compelling, and engaging AR user experiences.”
“In Kirin, we met a brilliant entrepreneur who is passionate about building a world class gaming studio while redefining what is possible on mobile devices and with augmented reality,” said David Wu, Partner at Maveron. “With the rapid evolution and adoption of augmented reality technology, we believe that Illumix is perfectly positioned to build the defining consumer brand in creating transformative mixed reality games that integrated into people’s daily lives.”
“At Lightspeed, we look for companies that will redefine the way we live and work,” said Nicole Quinn, Partner at Lightspeed. “Illumix’s team and vision, coupled with its custom technology, has the power to transform AR beyond novelty or companion experiences and define a new category in interactive entertainment.”
With this funding, the company will invest in its products and partnerships, and expand its team with people who want to create the next dimension in mobile gaming.
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Illumix is an integrated gaming and technology company transforming the future of mixed reality with environmentally-intelligent, world-scale AR games. Illumix’s process, pipeline, and infrastructure combine best-in-class AAA gaming practices and performance with cutting-edge R&D in computer vision, deep learning, and mobile AR. The company will release both an original IP in addition to a licensed game in 2019. Founded in August 2017 by MIT and Stanford alumna Kirin Sinha, and based in Silicon Valley, the company has 11 employees and is growing a technical and creative team of leaders in AR, computer vision, and gaming, including alumni from EA, Zynga and Microsoft. Illumix is supported by Lightspeed Venture Partners, Maveron, Radar Partners, Unusual Ventures and 451 Media.
Maveron is a consumer-only venture capital firm funding the brand upstarts, the disruptors, the slayers of the consumer old guard. We target seed or Series A companies and are obsessed with helping extraordinary founders build enduring consumer companies that directly engage, empower, and enchant customers. We’ve had the distinct pleasure to back some incredible companies – Zulily, Allbirds, Trupanion, General Assembly, eBay, August Home, Imperfect Produce, and many more. www.maveron.com
About Lightspeed Venture Partners
Lightspeed Venture Partners is an early stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 300 companies globally, including Snap, The Honest Company, GrubHub, Nest, Nutanix, AppDynamics, and MuleSoft. The firm currently manages over $6 billion of committed capital and invests in the U.S. and internationally, with investment professionals and advisors in Silicon Valley, Israel, India and China. www.lsvp.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20180918005293/en/
CONTACT: Illumix Media Contacts:
Lucy Neugart, 1-415-624-9256
David Shane, 1-310-601-0640
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: ENTERTAINMENT ELECTRONIC GAMES TECHNOLOGY SOFTWARE AUDIO/VIDEO MOBILE ENTERTAINMENT
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PUB: 09/18/2018 11:00 AM/DISC: 09/18/2018 11:00 AM