Infinity AR Raises $18M From Alibaba, Sun Corp

By Yonatan Sredni November 02, 2016 Comments

Infinity AR Raises An Additional $2.5 MillionNovember 2, 2016 | Israeli company Infinity Augmented Reality (Infinity AR), which is developing augmented reality systems for medicine, training, and games, in the midst of raising an $18 million round of financing. According to sources, the previously publicly traded company has re-entered the private market after a period spent traded on the US pink sheets. This restructuring comes with a $15 million investment from Chinese e-commerce giant Alibaba, along with another $3 million from previous investor Sun Corporation of Japan. Additional well known investors include Moshe Hogeg, who founded the company in 2012, and his Singulariteam Fund, which retain a small percentage of the company after this move. Following the investment, Alibaba is now listed as the largest single stakeholder in the AR company, holding over 22% of the shares.




Facebook Comments
Load more