Augmented reality (AR) solutions specialist Ncam Technologies has announced that it has received a significant injection of funds via YFM Equity Partners (YFM) to be used to support the development of new products.
The actual investment figure hasn’t been disclosed, with the funding announcement also including the appointment of two key members of staff to its management team, Mike Grieve as Chief Commercial Officer and Christina Williams as Head of Marketing.
Grieve brings over 25 years of media industry experience to the CCO role, most recently from RED Digital Cinema where he spent nearly three years as Sales Director EMEA. Williams appointment will help to strengthen the company’s global brand and communication channels as she was previously Senior Marketing Manager at RED Digital Cinema EMEA, as well as gaining marketing expertise from companies including G-Technology and GAME.
Nic Hatch, CEO, Ncam, said in a statement: “As augmented reality and real-time visual effects continue their rapid growth, more and more industries are seeing the opportunities that they bring. This additional funding will help us develop our award-winning technologies still further and improve the way we bring them to diverse market sectors around the world. The appointments of Mike and Christina will also help us realise our growth ambitions and reach new audiences, and we are actively seeking additional global talent to join our dynamic team.”
“With the support of YFM we can rapidly execute our growth plans, allowing us to develop our market potential and fulfil our global ambitions of becoming a market leader of augmented reality,” added Craig Deacon, CFO, Ncam.
Alongside the development of new products, Ncam Technologies will expand its global team and help the business extend its reach into new vertical markets as well as new territories – especially the USA and China where new office openings are planned for later in the year. For any further updates on Ncam Technologies and its plans for AR, keep reading VRFocus.