“Augmented reality has some obvious commercial applications when it comes to visualizing products for shoppers. Marxent has raised a second round of $10 million so that it can create applications for retailers using both augmented reality (AR) and virtual reality (VR).
AR is expected to become a $90 billion industry by 2020, according to Digi-Capital. And it’s not all about games and entertainment. Marxent is creating VR/AR apps for average consumers with its 3D Cloud™ platform.
The round was led by Detroit Venture Partners and Stage 1 Ventures, and it brings the total amount invested to date to $14 million.”