VC-backed Layar bought by Blippar

The combined businesses will have a customer base totalling more than 50 million and will operate in 175 countries. The new entity will also have partnerships with 100,000 self-publishers, as well as 5,000 brands and publishers.

In conjunction with the sale, Layar CEO Quintin Schevernels has stepped down from his position. The company will be headed up by Blippar's management team.

Previous funding
According to unquote" data, Layar first received approximately €1.3m in seed funding in November 2009.

The following February, Sunstone and Prime injected €2.5m into the business, with Prime investing via its €150m Prime Technology Ventures III fund.

In November 2010, Intel led a €10m funding round for Layar alongside Sunstone and Prime.

Company
Founded in 2009, Layar is headquartered in Amsterdam with additional offices in New York and Toronto. The company has developed a mobile augmented reality (AR) platform that allows businesses to create AR and interactive print solutions.

The company offers the Layar Creator, which allows businesses to build and manage AR solutions, or its Layar Creative Studio, which offers an end-to-end service. The technology works by allowing users to scan an advertisement with their phone camera, and Layar brings up an interactive AR display such as a video.

Its app is available for download on iOS, Android, Blackberry and Google Glass. The company claims it has been downloaded more than 38 million times. Clients include Playboy, Lonely Planet, Ford, Reebok and Elle magazine.

People
Ambarish Mitra is the CEO of Blippar.

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• Topics
• Exits
• Benelux
• Technology
• Netherlands
• Intel Capital
• Sunstone Capital A/S
• Prime Technology Ventures
• Trade sale