LETA Capital invested $3M in AR-platform Devar
02 February 2018Today Devar is a partner of the largest international children's brands such as Hasbro, Mattel, and Rovio. Licenses for using the platform and products of augmented reality are sold in 36 countries, and the total circulation of goods with augmented reality from Devar in 2017 already is 4 million copies.
Devar Entertainment is a technology company specializing in developing and creating content in augmented reality for entertainment and educational markets. The company has branches in the US, Europe, and Asia.
The history of the company began with highly specialized, complex developments of information technologies. In the process of research, the company’s founders studied the possibilities of computer vision, solving the problem of combining the translation of video from the robot's camera with the presentation of information on the operator's screen over the picture in one of their projects. The dream of the founders was, however, the creation and development of a mass product. “We decided to work with the children’s book market, as gaming is nowadays used in the teaching and education of children - the trend is to integrate technologies into toys and educational materials. Our products are in demand for today's generation of children - the Generation Glass,” says Anna Belova, CEO of Devar.
Devar entered the market with augmented reality (AR) coloring book for children of age group 3+. The first line of products spread very quickly and expanded into encyclopedias, alphabets and art stories. At the moment, Devar has more than 100 types of printed products. In addition to its own line of products, Devar is also a partner of the largest international children’s brands - Hasbro, Mattel, Rovio.
From the very beginning, one of the main principles of Devar was the creation of a quality product with tangible utility for the user. Adding AR to books or toys is not only a game component, but also a developing and teaching tool sometimes imperceptible to the user. The interaction with augmented reality allows for three additional layers information: visual, audial and kinesthetic, whilst everything occurs through a game. Thus, regardless of a person's inclination, they get information at the deepest level. “Research and testing with the involvement of children's audience showed that through learning through AR-books at the age of two, children know the entire alphabet, poems and any other content that is in the product. Each participant becomes a kind of co-author, participating in the development of creativity. And for children, this magic brings their heroes to life,” Anna Belova, CEO of Devar, explains. Devar’s offices often invite focus groups of children to test their products in order to better understand the preferences of the audience.
Presently, Devar focuses on the creation of educational and developing formats in the process of development of the printed line. The company is developing a large educational project for schoolchildren. The launch will be a line of materials on physics, mathematics, chemistry, biology, and English. Augmented reality allows for interaction with the historical past - extinct species of animals and disappeared civilizations, various dangerous substances or poisonous animals without harm to oneself, visiting distant planets, exploring the universe - everything that is difficult or impossible to accomplish in everyday life.
In the near future, Devar intends to launch the production of content in toys with artificial intelligence technology. This will allow for interaction with a toy or a character in real time.
“Our goal is to make every tenth family on the planet in 200 countries change the space around them, making things more useful and the world more convenient by giving new properties using augmented reality to ordinary things and space around us. Everything around us should be beneficial, developing and teaching, allowing one to learn the world and make it more convenient,” says Anna Belova, CEO of Devar.
Devar’s platform consists of two key components: printed products and a free application, available on the iPhone and Android. The user must download the application and direct the mobile device to a book or a coloring page to make it work. Devar’s patented technology allows one to see 3D objects in the same way as they were painted, as well as to interact with them, creating a strong emotional effect. In its products, Devar focuses on the valuable combination of entertainment and education. Users of all ages receive a convenient presentation tool. Thanks to augmented reality, complex schemes become simple and understandable with the help of visual and interactive 3D models. Augmented reality technologies used for literary fiction and gaming solutions can significantly increase sales and attract new audiences.
The funds received from the investment fund LETA Capital will be used to expand the company's product line. “Devar started its production with "activity" and "storybook" coloring books with augmented reality, today we are aiming at producing educational and development literature, and we plan to launch the production of content for toys and entertaining children's products,” says Anna Belova, CEO of Devar .
“Devar is the leading developer of the AR platform in the entertainment and education market in the world. Printed products of the company has gained popularity in the US, China, Europe and the Middle East. When deciding on investments, we were attracted by the rapid expansion, high-quality content of products, technologies and, of course, a focus on the international market,” said Alexander Chachava, managing partner of LETA Capital.
Augmented reality is an actively developing market, which will grow to $120 billion by 2020. “We managed to take share of it with our mass produce. And today we are doing AR for books, toys and consumer goods, tomorrow we will do augmented reality for "smart" glasses, and new devices will appear - we will learn to supplement reality for them,” says Anna Belova, CEO of Devar.