Aircards, a Newcastle-based augmented reality (AR) company, has secured a £3 million investment from Foresight Group. The funding is intended to support the company’s expansion in the UK and internationally. Aircards specialises in creating immersive AR, VR, and XR experiences for brands, bringing physical products like business cards to life.
Since its establishment in 2020, Aircards has grown to a team of 32 employees. The company has worked with a range of customers, including Nike, L’Oréal, and Red Bull, on campaigns in various locations globally. In addition to its core services, Aircards has developed two products: Invisionary, which provides interactive displays, and Metalitix, a data analytics tool. The new investment will be used to support the growth of all three services.
Aircards plans to use a portion of the investment to expand its in-house fabrication capabilities, enabling it to design and build physical environments for immersive experiences, such as interactive pop-ups and AR-enabled mirrors. The company stated that it had been seeking a partner to fund the investment needed to expand its operations and technology, as well as to collaborate on its strategic direction.
The investment from Foresight is expected to result in the creation of approximately 10 jobs over the next three years. Euan Jarvie, former CEO of Dentsu UK&I, will join the team as executive chair to support the company’s growth plans.
Michael Watson, founder of Aircards, said: “We are delighted to have secured the investment from Foresight, which marks a significant milestone in Aircards’ journey. Their support will enable us to accelerate our growth strategy, broaden our capabilities, and unlock new opportunities in the rapidly expanding immersive technology market.”
Jordan Lavender, senior investment manager at Foresight Group, added: “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. 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.”
Image source: Foresight Group
