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Russian AR project Devar raises $3 million

2018-02-08

Russian startup Devar develops entertainment and educational AR content. The company creates printed products and a mobile application for iOS and Android.

You can buy Devar license in 36 countries. The total print was 4 million copies last year, and company earned profit of 3 million dollars, which is 30% more than in 2016.

Leta Capital invested $3 million in Devar. This is not the first time the venture fund invests in VR and AR projects. All funds will be used to expand the product line:

  • educational literature production;
  • creation of content for children's games;
  • creation of educational project for students.

Leta Capital gets minority shareholding as well, meaning the fund does not get control over the startup.

 

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