Tech
Check out the 24-slide pitch deck Beem, an AR startup that enables users to communicate in the metaverse, used to raise $4 million in seed funding.
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- A startup that enables users to communicate through augmented reality (AR) has raised $4 million.
- London-based Beem has developed its infrastructure to become a Web3 utility app.
- Check out the 24-slide pitch deck it uses to raise the funds.
Beem, a startup that enables users to communicate with others live or on-demand in augmented reality (AR), has raised $4 million in seed funding.
The London-based startup, which was founded in 2017, allows a speaker to appear in their audience’s space while being viewed through their phone. Users scan an empty spot in a room where a scaled version of the speaker then appears.
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The technology caters to a wide range of uses, from virtual catwalks to personalized concerts in living rooms, said founder and CEO Janosch Amstutz. The company claims its AR software is considerably more engaging than traditional video.
Unlike a lot of Web3 applications that are just for experiential purposes, Beem’s infrastructure has been designed “as a utility, as a pipeline from which communication can occur,” Amstutz told Insider.
“We also want people with VR glasses to experience the platform as well,” he said. “So as the transition to the metaverse happens, our technology can adjust to that too.”
Beem, which has launched its app, is now focused on building customer traction, something AR companies have historically had very little of,” according to Amstutz. By using consumer data, Beem will optimize the platform so that it can monetize its verticals strategically.
Beem has previously worked with Warner Music, and hosted live catwalks with ASOS and H&M to find a market fit.
The round was backed by 5Lion Ventures, which has previously invested in the likes of health tech app Heal, as well as Ascension Ventures, Grouport Ventures, Inertia Ventures, Lior Messika, and others.
While investor appetite for startups operating in the metaverse has increased this year, Beem was “preaching to empty auditoriums” about the vast opportunity technologies like this can provide for a long time, said Amstutz. “In the past six months, all that changed.”
With its fresh funds, Beem will focus on rolling out its technology and refining user experience. While Amstutz noted that it’s “a challenging experience delivering to emerging markets”, its goal is to “ensure its product lands in the right niches.”
Check out the 24-slide pitch deck it used to raise capital.