The location-based augmented reality (AR) creation platform Trace has emerged from stealth mode after a successful $2 million pre-seed funding round. Pitched as the potential ‘Canva of AR,’ Trace offers tools for developers to build immersive content for various devices like smartphones, AR glasses, and spatial computing hardware such as Apple’s upcoming Vision Pro.
The oversubscribed funding round, a rare achievement in the industry, was led by Rev1 Ventures and Impellient Ventures. Trace has already secured major Fortune 500 customers, including Qualcomm, T-Mobile, Lenovo, and Telefónica, who are using the platform for brand activations, employee training, product education, and more.
“Rev1 continues to support and invest in industry disruptors, and Trace is doing precisely that,” said Melinda Gloriosa, Managing Director, Investment Funds at Rev1 Ventures. “We’ve invested early because we believe they’re poised to make waves in the augmented reality and spatial computing industry. We look forward to seeing how Trace transforms AR and revolutionises our interaction with the world around us.”
Impressing Major Clients
Despite its recent public unveiling, Trace has already enabled AR experiences for high-profile events like the Hip Hop 50 Summit, flagship retail stores, and Mobile World Congress 2023, where it supported Deutsche Telekom’s AR activation.
“Deutsche Telekom used Trace to power a mixed reality experience at Mobile World Congress 2023, and the results couldn’t have impressed us more,” said Elmar Schrage, Head of Business XR Development at Deutsche Telekom. “The end-to-end, user-friendly approach offered by Trace is unique and lets us deploy high-fidelity immersive experiences. Trace is an ideal tool empowering our sales team to effectively present complex products or simply to ‘wow’ our customers in our flagship stores.”
Democratizing AR Creation
Trace was founded on the belief that AR content is most effective when closely integrated with its physical surroundings. The company’s co-founders, Greg Tran (former Creative Director at Magic Leap), Sean Couture, and Martin Smith, have applied this principle to develop an AR creation tool accessible to all skill levels.
“Creating AR content is typically a complex process that is out of reach for anyone other than experts and agencies,” said Greg Tran, CEO and co-founder of Trace. “Trace uses a beginner-friendly approach to creation so that AR deployments that previously took months can happen within just a few moments. What Canva did for graphic design and SquareSpace did for websites, Trace can accomplish for AR.”
With the $2 million in funding, Trace can accelerate development of its platform, currently in closed beta, and help creators and businesses connect their AR technology with customers.
An Open AR Ecosystem
Tran’s background at Magic Leap, a pioneer in AR devices and applications, could position Trace to align with Magic Leap’s mission to build an open and accessible AR ecosystem. Last year, Magic Leap announced increased OpenXR compatibility for its Magic Leap 2 headset, potentially paving the way for applications created on Trace to integrate with the company’s flagship product.
As spatial computing and AR continue to gain traction, platforms like Trace aim to democratize immersive content creation, empowering businesses and developers to bring their visions to life and reshape how we interact with the world around us.
