London-founded startup Admix has landed $2.1 million in funding for its advertising platform for AR and VR applications. The round was led by Speedinvest, with participation from Suir Valley, Force over Mass, and Founders Factory.
Admix markets itself as a monetisation platform for AR/VR developers that allows placing what it calls non-intrusive programmatic ads (see an example above) into their applications. The company has recently partnered with the media and advertising giant Oath (the parent company of Yahoo and AOL).
“Today, VR/AR developers have very few options to monetize their content: the few solutions that exist are intrusive and not adapted to VR/AR,” said Samuel Huber, Admix’s co-founder and CEO. “This creates a lack of incentive for creators, which slows down the industry. Admix aims to grow the industry by creating the infrastructure to power a sustainable business model in VR/AR. Our non-intrusive advertising model respects the users, creates a sustainable economy for developers, and enables brands to stand out in a way that is impossible on existing, saturated channels.”
Founded in 2017, Admix employs 15 people at its offices in London and San Francisco. The company plans to double the number of employees within the next year.