San Francisco-based technology startup Illumix just closed a $18 million Series A round of funding, and in a rare move for the Shark Tank star, Mark Cuban contributed.
The company develops platforms for augmented reality (AR) experiences and sees itself as a crucial player in the emerging Web3 and metaverse ecosystems.
"We really think about ourselves as the backbone behind your immersive experiences," said Kirin Sinha, CEO and founder of Illumix.
Historically, those experiences were limited to the gaming and entertainment worlds. Now Illumix has its sights on what it calls "location-based entertainment." Sinha explained that the company wants to bring AR to in-person experiences such as sports games, concerts, and theme parks.
On why Cuban decided to invest, despite his aversion to investing in tech firms, Sinha said he thinks "it really comes down to the scope of this opportunity."
"The idea of the digital and physical worlds coming together has been talked about for some time, but we're really seeing that market timing starting to hit," he added.
CEO and founder of Pinstripes Dale Schwartz shares his thoughts on taking the company public, why they're set for growth this year, and why he's not concerned about inflation weighing on the restaurant sector.
With hype continuing to build for A.I. projects, expert insight on what companies seem poised to benefit, plus how it will impact the lives of everyday consumers.
Ford says it’s reducing production of the F-150 Lightning electric pickup vehicle as it adjusts to weaker-than-expected electric vehicle sales growth. The automaker said about 1,400 workers will be impacted by the move.
Walmart Inc. is raising the starting base pay for store managers, while redesigning its bonus plan that will put more of an emphasis on profits for these leaders.
Despite concerns about shipping delays in the Red Sea, RSM Chief Economist Joe Brusuelas says there are still reasons to be optimistic about the state of the U.S. economy.
Dan Ives, Managing Director and Senior Equity Analyst at Wedbush Securities dives deeper into a report by the International Data Corporation (IDC) that Apple has ended Samsung's 12-year reign as the world's largest smartphone seller.
Artificial intelligence is the biggest buzzword at the World Economic Forum’s annual meeting in Davos. Advances in generative AI stunned the world last year, and the elite crowd is angling to take advantage of its promise and minimize its risks.
