Edmonton-based tech startup Scope AR announced a Series A funding deal Wednesday worth $9.7 million.
The augmented reality product helps put specialized technical know-how in the hands of remote workers.
“We really apply augmented reality to heavy industrial processes,” said Scott Montgomerie, CEO of Scope AR. “The idea is that we can overlay 3D models on top of real equipment to show you step-by-step how to do certain things, whether it’s training, maintenance, or manufacturing and assembly instructions.”
Smartphones, tablets and wearable AR devices can be used with the platform to allow low-skilled workers to link with experts, or existing interfaces, enabling the remote worker to be coached through a complex task.
The funding round was led by Boston-based Romulus Capital that touts working with spin-offs from major research institutions like MIT, Standford and Harvard, along with private enterprises focused on business-to-business technological capabilities, according to their website.
This isn’t the first big win for the firm with 25 full-time employees based out of Edmonton. Their technology is being used by Lockheed Martin on the NASA Orion Space Capsule.
“We’ve been working with them for four or five years now,” Montgomerie continued, “they’re using our technology to improve their manufacturing processes.”
A Series A funding round is typically used for a startup to scale up — meaning Scope AR now has the resources to go big.
The funding announcement is impressive news to Tony Briggs, who is an executive professor of Innovation and Entrepreneurship and director of eHub at the Alberta School of Business.
“It represents a lot of faith is this company’s ability to scale and deliver new products,” said Briggs.
“This is very exciting for Edmonton, and it’s also a big deal in Canada.”
Briggs says a win like this will have positive ripples in the Edmonton marketplace. As staffers at Scope AR continue their careers in Edmonton, their valuable wisdom will eventually spread to other firms.
“It shows we are really figuring out how to do it, how to work with other communities and how to scale,” said Briggs. “Those things are really, really great for our ecosystem.”
Montgomerie says the Scope AR office in Edmonton will likely double its staff size in the near future.
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