KIT-AR Secures €3.3M in Funding to Advance Augmented Worker Platform

February 27, 2024

KIT-AR, a pioneering augmented worker platform catering to the manufacturing sector, has just announced the successful conclusion of a significant funding round totaling 3.3 million euros. Spearheaded by prominent investors such as 3XP Global and Blue Crow Capital, this round also saw continued support from Sintef Venture V, Criteria Venture Tech, and Armilar Venture Partners. With this injection of capital, KIT-AR is poised to expand its global footprint, bolster its team, and further its mission of revolutionising manufacturing through augmented reality (AR) technology.

Manuel Oliveira, CEO of KIT-AR, highlighted the critical importance of minimising human errors in the industrial landscape. He emphasised, “Every day, industrial brands across the world are realising that reducing human errors is not only a persistent competitive advantage but essential to avoid unmitigated costs.” Oliveira underscored how KIT-AR's platform presents an opportunity for companies to virtually eliminate errors, thus averting potentially severe consequences for their businesses.

The ramifications of such errors extend beyond mere economic implications, affecting environmental and societal realms as well. By focusing on mitigating the cost of poor quality, KIT-AR enables manufacturers to contribute directly to a more sustainable world. Miguel Lemos, a partner at 3XP Global, emphasised this alignment, stating, “KIT-AR supports industries minimising errors and optimising resource utilisation, being therefore, fully aligned with 3xP Global’s objectives.”

At the heart of KIT-AR's success lies its patented technology, which serves as a cornerstone for manufacturing enterprises seeking to digitize their shop floors in a human-centric manner. Recognized for its innovative prowess, KIT-AR has garnered acclaim from prestigious programs such as the Sony Startup Acceleration Program and the Boeing Aerospace Xelerated Program. Antonio de Mello Campello, partner of BlueCrow Capital, expressed enthusiasm for KIT-AR's approach, citing its tangible enhancements to efficiency and workflow clarity.

Manuel Oliveira affirmed the company's commitment to ongoing innovation, highlighting strategic partnerships with industry leaders like PWC Portugal and Portugal's largest communications and entertainment group, NOS. These collaborations are poised to amplify KIT-AR's reach and value proposition within the manufacturing sector, both domestically and internationally.

KIT-AR's core mission revolves around reducing the cost of poor quality within manufacturing processes. Leveraging augmented reality, artificial intelligence, and process mining, the company's platform identifies, traces, and mitigates production errors, particularly within the automotive and aerospace sectors. This innovative approach has earned KIT-AR accolades and recognition, positioning it as a frontrunner in the ongoing industrial revolution.

In conclusion, KIT-AR's recent funding milestone underscores its commitment to driving innovation and efficiency within the manufacturing domain. With a stellar track record and strategic partnerships in place, the company is well-positioned to realise its vision of ushering in a new era of augmented workers, where human potential is augmented by cutting-edge technology.