Thursday, September 26 11:46:31
Dublin based tech start-up Von Bismark, the "Physical Web" pioneers, today said that an injection of new funds means it is now moving on to the next phase of their plans to create an e-commerce platform for the high street.
The expansion, which will see six new jobs created, comes with a E350,000 investment from private investors and Enterprise Ireland.
Founded in late 2011 Von Bismark came through NDRC's Launchpad 4 program and released their first commercial product - the "VB Wardrobe" in 2013.
The Wardrobe uses live motion capture and allows consumers to control the interface from a number of metres away using only their hands.
Using augmented reality, users can then try on virtual outfits, take pictures and share content within seconds.
To date the Wardrobe has been used as a marketing and sales tool for retailers and advertisers with over 200,000 people in Ireland having used the Wardrobe since launch.
Von Bismark founder and CEO, Eoghan O Sullivan said: "This investment will allow us to really push on with the roll out of our technology and mature from a marketing and point of sale engagement tool to a full in store e-commerce ecosystem for high street retailers. We've built real momentum with our technology since the start of 2013 and had success attracting clients like Vodafone, UPC and AIB as well as solidifying long term strategic partnerships with Microsoft, CBS Outdoor, Box Technologies and payment processing giants Datacash, a Mastercard company. All of this means we're in a really great place going into the start of 2014".
The investment will see Von Bismark create 6 new positions over the next 12 months, mainly in development and account management. It will also allow the company to port all of its services onto the cloud and build a hybrid system for in store e-commerce that will merge its existing Microsoft Kinect based motion capture and facial recognition capabilities with touch screen and transactional processes.
"We really believe that the high street is going to undergo a fundamental change over the next few years with Deloitte predicting that retailers will have to shrink their store portfolios by 30-40pc over the next 3-5 years. Their cost bases are too high and having to stock their entire inventory all of the time is absolutely killing their bottom line. We aim to revolutionise the sector by bringing e-commerce in store. We will personalise the consumer's experience, speed it up and allow them access more inventory, while reducing the retailers staffing, security, shipping and mark down costs," Eoghan O Sullivan added.