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Mira, an Augmented Reality firm raises $10M in funding from Sequoia and others.

In a time, when user experience is given the utmost priority, Augmented Reality is the future of
design. Mira, an operator of mobile augmented reality company provides industrial-grade wearables
and hands-free software and hardware technologies is the new talk of the town in the world of
Augmented Reality.

Founded in 2016 and headquartered in Los Angeles, California, Mira has succeeded to raise over
$12.7M in 3 rounds, the lead investors being Sequoia and a few others. The main mantra of Mira is to
reduce the room for human error while simultaneously capturing rich data that can be used to
improve procedures.

The company was founded by Jonathan Frangakis – https://www.linkedin.com/in/jonathanfrangakis/with the aim to provide crowd Analytic platform.

Competing with other prominent AR start-ups such as Magic Leap, Mira went out of the box and
shifted from consumer to business customers. Although Magic Leap raised more than $3 billion in
funding from firms like Google, AT& T, Warner Bros. Etc, its products were not well received by
customers. Founded by cognitive minds Ben Taft, Matt Stern, and Montana Reed, Mira changed its
focus on business applications that may well secure the company’s long-term success. Initially, they had
bought a Microlens HoloLens developer kit, which cost around $5000. It was expensive as well as
cumbersome for students or developers to build AR application, therefore they hacked $100 worth
smartphone parts, 3D-printed headset around an iPhone and made lens using chopped plastic
fishbowl. This prototype made out of a fishbowl landed $1.5 million of funding. Orica, the biggest
manufacturer of explosives also used their application.

 

AUGMENTED REALITY

Augmented reality has come a long way from a science-fiction concept to a science-based reality. It
is already available on our mobile headsets. People often confuse Augmented Reality with Virtual
Reality. Augmented reality is actually “real” and just adds layers of virtual objects to the real
environment, whereas, in Virtual Reality, the surrounding environment is completely virtual.
Augmented reality integrates Computer Graphics with the real world. The best-case scenario being
Smartphone and other screens being totally replaced by advanced AR glasses. Sounds awesome,
right?

Mira is also set to launch an augmented reality handset for $99. Unlike Microsoft’s Hololens, it is
affordable as it used the iPhone for the headset’s brain. Mira apps run on iPhone and the iPhone screen
is part of the display. Its approach is similar to Google Cardboard, which is the most common VR
headset but offers a low-end experience.
According to Mira CEO Benjamin Traft, “Right now this is the only accessible hardware solution for AR”

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Unnati Saxena

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