AR presentation startup JigSpace bags $6 million for global growth

Aussie startup JigSpace has raised $6 million in Series A funding to continue the momentum of its COVID-19 growth trajectory and take its augmented reality presentation tech global.

The round was led by VC firm Rampersand, and also included investment from Investible as well as new backers Vulpes and entrepreneur and investor Roger Allen.

Founded in 2017, JigSpace was designed to set a new standard for ‘knowledge in 3D’, allowing for interactive 3D presentations and augmented reality.

The latest raise follows a $2 million cash injection in August last year, as the COVID-19 pandemic and mass shift to remote working led to a 900% uptick in use of the platform.

That propelled the startup from the R&D phase into commercialisation. And in October last year, it hit the international stage as Apple used JigSpace’s Workshop tool to showcase the LiDAR capabilities of its range of iPhone 12 models.

In May this year, JigSpace joined the Snap Lend Network, bringing its technology to millions of Snapchat users.

Now, JigSpace has more than 4 million users — a number that’s growing at about 40% month-on-month. The average active user uses the tool more than once a day, and the platform has a star rating of 4.8.

The fresh funding will be used to accelerate a global growth drive.

“The opportunity for 3D knowledge is big,” co-founder and chief Zac Duff said in a statement.

“In the future you’ll be able to look at every object as a Jig.”

Paul Naphtali, co-founder and managing partner at Rampersand, said JigSpace is “changing the way people share ideas and knowledge 10x better than anything we’ve seen”.

“We rarely see a company with JigSpace’s technical capability, growth trajectory and opportunity ahead of it, and we are energised by a future where augmented reality improves people’s lives.”