Leonid Poliakov, October 6, 2016
Bremen, October 6th, 2016: Ubimax, the leading provider of Wearable Computing solutions for desk-less workers today announced a $6M investment from Atlantic Bridge and Westcott LLC. The funding will primarily be used to further grow the company’s existing U.S. business and to extend its market leading position from Europe to the American market.
Hendrik Witt, CEO of Ubimax, commenting on the investment said “This investment from two of the leading investors in Augmented Reality and Wearable Computing is a strong endorsement of the solution oriented technology platform we are providing to our customers. We’ve been growing profitably without any kind of funding until today. However, with the market picking up at a rapid speed, the additional money and support from our new investors will help us to keep up the high quality levels which our customers are used to and expect from us. We specifically selected Atlantic Bridge and Westcott LLC due to their extensive experience and strong track record in our market and with scaling companies from Europe to the U.S. This will help us to keep our clear market leading position in Europe and to reach the same market position in the U.S.”
In conjunction with the new investment, Kevin Dillon, Managing Partner at Atlantic Bridge Capital, and Court Westcott representing the Westcott LLC, will join Ubimax’ Board of Directors.
Kevin Dillon, Managing Partner with Atlantic Bridge, stated “This investment decision was made based on the deep knowledge that the Ubimax team has in developing complete and scalable Wearable Computing solutions for desk-less workers. This is a market that is growing rapidly as we see more and more Smartglasses and Wearable devices aimed at the enterprise market emerge. The investment will enable Ubimax to continue to grow with the market. We will not only support with money but also with our extensive know-how of successfully scaling companies from Europe to the U.S. market”.
“In Ubimax, we’ve found a leader in Wearables for industry and commerce that delivers productivity gains and increased efficiency from day one to more than 100 European and U.S. customers already today” added Court Westcott. “We're active investors in the computer vision and Augmented Reality markets and see huge promise in Ubimax as a leader in next-generation Wearables”.
UBIMAX is a Leading Supplier for Industrial Wearable Computing solutions creating fully integrated solutions powered by latest wearable computing technologies to improve business processes. Its Enterprise Wearable Computing Suite includes xPick for order picking, xMake for manufacturing and quality assurance processes, xInspect to support service and maintenance technicians and xAssist for remote assistance functionality. With offices in Germany, the U.S. and Mexico, over 10 years of experience and an extensive track-record in the fields of Wearable Computing, Augmented Reality, Mixed Reality and Sensor Systems, Ubimax serves more than 100 customers today and is a clear forerunner in the market.
Atlantic Bridge Capital is a Global Technology Fund with over $500 million of assets under management investing in technology companies in Europe, the US and China.
Atlantic Bridge applies a sectoral investment strategy and is a leading investor in computer visioning and Augmented Reality (AR) technology companies. Most recently Atlantic Bridge was the lead investor in both Metaio and Movidius, leading AR & Computer Visioning companies with Movidius acquired by Intel in September 2016 and Metaio acquired in May 2015 by Apple.
Westcott LLC is the private family office of Carl Westcott. Carl Westcott a serial entrepreneur, founding Westcott Communications, 1800FLOWERS and First Extended. Westcott Communications was acquired by K-III in 1996 and First Extended was acquired by Aon in 2000.
Westcott LLC invests in early stage technology companies and is also a multifamily developer. Westcott LLC’s primarily invests in augmented reality, computer vision and anticipatory computing companies with notable investments in Metaio, Meta and Mindmeld. Metaio was acquired in 2015 by Apple.