Trace Launches Location-Based Augmented Reality Creation Platform with $2 Million in Funding
Trace, a location-based augmented reality creation platform, has officially launched with $2 million in funds led by Rev1 Ventures and Impellent Ventures. This startup aims to simplify the process for businesses to bring their content into the virtual world.
The pre-seed round for Trace was oversubscribed and included investments from Everywhere Ventures, the Ohio Innovation Fund, Portland Seed Fund, Allied Venture Partners, Service Provider Capital, Astir Ventures, Move VC, Phoenix Venture Fund, and major players in the extended reality industry such as Andreessen Horowitz, Sequoia Capital, and Index Ventures.
Founded in 2021 by Greg Tran, Martin Smith, and Sean Couture, who all have backgrounds at AR headset developer Magic Leap Inc., Trace is best known for its enterprise-focused AR headsets. The company’s latest product, the Magic Leap 2, was released in 2022.
Augmented reality technology superimposes computer-generated imagery onto a user’s view of the world, creating a mix of virtual and real elements. Trace’s platform offers tools for businesses to create location-based AR content for smartphones, AR glasses, and devices like Apple’s Vision Pro mixed reality headset.
Greg Tran, co-founder and CEO of Trace, highlighted the platform’s user-friendly approach to AR content creation, making it accessible to a wider audience. He compared Trace’s impact on AR to what Canva did for graphic design and SquareSpace did for websites.
While the release of devices like Apple’s Vision Pro is helping to bring spatial computing into the mainstream, much of today’s AR content is still limited to 2D screens on mobile devices. Spatial computing enables the placement of 3D virtual objects within the real world, allowing for interactive and immersive experiences.
Trace’s team includes experts from prestigious backgrounds like Harvard University, Walt Disney Co., Samsung Electronics Co. Ltd., and the U.S. Defense Advanced Research Projects Agency. The company believes that integrating AR content closely with physical surroundings enhances the immersive experience and ease of interaction.
Although Trace has just been unveiled, it has already assisted customers in creating AR experiences for events like the Hip Hop 50 Summit and large retail stores. Early customers of Trace include T-Mobile US Inc., Qualcomm Inc., Lenovo Group Ltd., and Microsoft Corp., using the platform for purposes like employee training and retail product exhibitions.
Deutsche Telekom AG praised Trace for its user-friendly approach and high-fidelity immersive experiences, which were showcased at Mobile World Congress 2023. The company’s tools have been instrumental in empowering sales teams and wowing customers in flagship stores.
Overall, Trace’s launch marks a significant step forward in the AR industry, offering businesses a simple and effective way to bring their content into the virtual world. With a strong team and support from major investors, Trace is poised to make a big impact in the world of augmented reality.
