Dundee based augmented reality startup announce investment deal with Exception and Waracle
Mozenix, one of Scotland’s fastest growing emerging technology agencies, today announced it has received investment from the Exception Group and Waracle. Mozenix, incorporated in June 2017 and Dundee based, are currently working on augmented reality (AR) app development projects for some of the UK’s biggest blue-chip customers.
The investment in Mozenix and their unique AR delivery capability, represents part of an ongoing strategy between Exception and Waracle to extend the service offering into new emerging technologies and to further facilitate the ambitious growth plans of the group.
AR technology is already being deployed in various formats across multiple industry sectors, from banking and financial services, to retail, construction and oil and gas. AR technology enables businesses and developers to overlay digital information and 3D objects on top of the real-world environment via heads up display (HUD), smartphones and tablets. Some analysts estimate that by the end of 2018, developers will have access to over 1 billion existing iOS and Android devices via the Apple ARKit and Google ARCore platforms.
As part of the investment deal, Martin Burke, Director and Chairman of both Exception and Waracle, will now become the Mozenix Chairman and a Director of the company. With this investment, co-founder and CEO of Mozenix Michael Romilly said “Our job is to enable businesses to navigate the emerging technologies landscape and to enable the extension of existing desktop and mobile apps into the rapidly growing and highly lucrative world of AR”
Mr Romilly continued “We’re absolutely delighted to be working with Exception and Waracle. Dundee is still pushing out amazingly innovative tech start-ups and the support from successful businesses provides insight, experience and connections that are often overlooked when you are busy starting out. Many Scottish startups struggle to grow with demand. We’ve already begun working with the Waracle and Exception teams and their experience is helping us drive results”
Martin Burke of Exception concurs “Our investment in Waracle in 2016 has been a great addition to the Exception Group. Both Exception and Waracle are excited to be working with Mozenix to help deliver mobile AR apps via our existing customer channels. We’re already seeing significant demand for mobile AR applications from existing customers across multiple industry sectors”.
Mozenix incorporated in June 2017 and was co-founded by Michael Romilly and Michael Brown. The company recently announced it had secured a lucrative contract with Aberdeen based visual asset management company Return To Scene Ltd (R2S) who are part of the FTSE 250 company The James Fisher Group and is currently working with a number of other high profile clients across the UK to develop high performance mobile AR applications.