UCLB spinout, KIT-AR, announces €2m in seed stage funding round

1 July 2022 | Spinout News

KIT-AR, the augmented worker platform for the manufacturing industry, announced the completion of a €2m seed stage funding round.

This investment was co-led by Armilar Venture Partners and Caixa Capital Risc, with participation from RKKVC and Techtree fund (managed by Iberis Semper) and follow-on investment from Sintef Venture V and Best Horizon.

This round of financing will help KIT-AR push onwards with its goal to become the premier augmented worker platform for the manufacturing industry.

Incorporated in the United Kingdom, with a subsidiary in Portugal, KIT-AR has strong roots in applied research and innovation having spun out of UCL (University College London) and SINTEF, the largest research institute in Norway.

Marina Santilli, Associate Director of Physical Science and Engineering at UCLB, said: “Having followed the development of the team and the evolution of the product platform from its initial roots as a collaborative research project between UCL computer scientists and SINTEF engineers, I am delighted that KIT-AR has secured this significant seed funding award. I look forward to seeing the company evolve and grow even further.”