Ex-Valve employees raise $15m for AR start-up CastAR

Augmented reality start-up CastAR has raised more than $15m in a Series A funding round.

The company, previously called Technical Illusions, is developing AR glasses CastAR. The tech provides “holographic-like 3D images” which it says can be used for a shared, interactive gameplay experience.

It was set up by former Valve employees Jeri Ellsowrth and Rick Johnson in 2013. The firm took to Kickstarter that year to raise initial funds for the project, making just over $1m.

The latest $15m investment round was provided by seed investors Playground Global. The funds will be used to continue the development of the CastAR technology and to hire new staff in engineering, business and design roles.

The AR tech is currently stated for commercial launch in 2016.

"Among all the confusion about what separates AR from VR, what’s lost is fun," said CastAR CEO David Henkel-Wallace.

"People want a simple, accessible, fun solution that they can just pick up and play with their friends, without dealing with a bulky, uncomfortable headset, much less being tethered to a big computer. Our goal is to see castAR on store shelves across North America, aligned with some recognisable brands in tabletop and interactive gaming. Playground’s support will help us get there."