NORFOLK, Va., Aug. 26, 2019 /PRNewswire/ -- Ario Technologies, Inc., creators of Ario, an augmented reality (AR) software-as-a-service (SaaS) platform, announced today that it has closed a $2 million venture round led by NRV, a Richmond-based venture capital firm focused on providing counsel, connections and capital to growing companies in the Commonwealth. Ario has also been granted a $1.5 million SBIR grant by the United States Air Force bringing a total of $3.5 million of new funding to the company.
"The seasoned Ario team has built a software solution that solves important needs in our most important industries," said Scott Tolleson, managing director of NRV and incoming Chairman of Ario. "As augmented reality applications become more mainstream, Ario has found a way to deploy them in ways that radically increase worker productivity."
The investment will enable Ario Technologies, Inc. to further capitalize on its position as an emerging leader in the enterprise AR industry, in the United States and internationally, where companies strive to increase worker efficiency, reduce training time, and provide remote-expert assistance.
"Our team is focused on reducing the skills gap across the workforce and we are excited to deliver our augmented reality platform to eager hands," said Joe Weaver, co-founder and chief executive officer of Ario Technologies, Inc.
While Ario Technologies, Inc. continues to expand their market traction, it is also continuing to iterate on its product offerings.
"We're really focused on the point where human performance and situational awareness meet and increasing the value of that moment by leveraging augmented reality," said Nate Fender, co-founder and chief operating officer of Ario Technologies, Inc.
About the Company
Founded in 2016, Ario Technologies, Inc. set out to empower the industrial workforce by providing augmented reality software tools. Having seen an increase in demand for the Ario platform, from Fortune 500 companies and recently the United States Air Force, the company plans to expand its offering globally in late 2019.
American Electric Power IlluminationLab: Pitch Day 2019 Winner Plug and Play Tech Center: Energy & Sustainability Batch #5 Participant 2019 NATO: NATO Innovation Challenge Winner 2018 Plug and Play Tech Center: IoT People's Choice Award, Summer Summit 2018 HRIC: Emerging Augmented Reality Product of the Year (2018) Established: Top 5 Startup of the Year (2018)