The chemical company BASF is investing 3.75 million euros in the Munich-based augmented reality startup Re'flekt through its venture subsidiary.
The investment by the Ludwigshafen-based chemical giant opens a Series A financing round for the Munich-based company. Bosch already invested in the AR startup in 2015. Re'flekt CEO and founder Wolfgang Stelzle says:
"The investment of two of the world's largest industrial companies demonstrates our position in the market and the industry's confidence in our augmented reality ecosystem. With this new round of financing, we can continue our strong growth and invest in our team and products."
BASF Venture Capital sees the advantages of augmented reality in simulations, communication and digital learning, says the managing director Markus Solibieda. He continues:
"Through our partnership with Re'flekt, we create additional value for our customers and increase the efficiency and effectiveness of many processes."
Re'flekt develops AR for industry
Re'flekt was founded in 2012. The company develops an augmented and mixed reality ecosystem for industry. Step-by-step instructions are projected onto complex machines and systems using augmented reality. Stelzle says:
“This can help avoid errors and increase operating times.”
The company's solution enables industrial companies to transform their existing CAD data from technical documentation into interactive augmented reality instructions for mobile devices and smart glasses. These can be used worldwide wherever interactive user support is helpful in service processes. It is also intended to help facilitate and standardize learning and training. The startup employs more than 60 people in Munich, Düsseldorf, and Los Angeles.
