San Francisco-based technology startup Illumix just closed a $18 million Series A round of funding, and in a rare move for the Shark Tank star, Mark Cuban contributed.
The company develops platforms for augmented reality (AR) experiences and sees itself as a crucial player in the emerging Web3 and metaverse ecosystems.
"We really think about ourselves as the backbone behind your immersive experiences," said Kirin Sinha, CEO and founder of Illumix.
Historically, those experiences were limited to the gaming and entertainment worlds. Now Illumix has its sights on what it calls "location-based entertainment." Sinha explained that the company wants to bring AR to in-person experiences such as sports games, concerts, and theme parks.
On why Cuban decided to invest, despite his aversion to investing in tech firms, Sinha said he thinks "it really comes down to the scope of this opportunity."
"The idea of the digital and physical worlds coming together has been talked about for some time, but we're really seeing that market timing starting to hit," he added.
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A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
