Aircards, a Newcastle-based startup using immersive technology to develop storytelling experiences for major brands, has received a £3m investment from Foresight Group.
Founded in 2020, the company works across a variety of platforms, creating AR and XR technology for campaigns for companies including Pepsi, Visa and Delta Air Lines.
With a current team of 32, the new investment is expected to increase jobs at the firm by 30% over the next few years.
“We are delighted to have secured the investment from Foresight, which marks a significant milestone in Aircards’ journey,” said company founder Michael Watson.
“Their support will enable us to accelerate our growth strategy, broaden our capabilities, and unlock new opportunities in the rapidly expanding immersive technology market.”
Foresight is a regional private equity and infrastructure investment manager.
“Aircards has demonstrated strong growth since inception five years ago and Foresight is excited to support the highly talented team on their next phase of growth,” said Jordan Lavender, senior investment manager at Foresight Group.
“The North East is home to many ambitious and innovative SMEs, and this investment marks a meaningful step in Foresight’s ongoing commitment to the region.”
Among Foresight’s other recent investments is Ad Signal, a York-based software firm that received a £3m investment from Foresight in May.
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