Dallas-based AR start-up ARKH signs 50/50 joint venture with UK-based Litho »Dallas innovates
As a teenager, Landon Nickerson made millions as a YouTube player, with up to 4 million subscribers watching his Fortnite, Roblox, and Minecraft videos. In 2019, he gave up on this to found his startup ARKH. Last week he announced something new that could be a game-changer: his company’s 50/50 joint venture with UK-based Litho Holdings LLC.
As part of the multi-million dollar deal, ARKH has acquired 95% of the material assets, tooling and intellectual property of the AR product from Litho, Forbes reports. ARKH will now have the exclusive rights to sell Litho’s AR controllers under its own brand. Litho will continue to focus on the development of its AR filmmaking application, Diorama.
“The AR controller is for augmented reality like the mouse is for modern computing.” Nickerson said in a statement announcing the joint venture.
Nickerson says that “most people have been exposed to some of what AR has to offer, but very few understand the amazing things that are made possible when you have an AR controller on hand.
$ 5.7 million seed round closed
ARKH raised $ 3.7 million in February to close its funding round with total funding of $ 5.7 million, Nickerson said at the time, saying his company had received a valuation of $ 40 million. .
Nickerson, 22, thinks the field is wide open. ARKH plans to start shipping RA hardware and software products this summer.
ARKH will leverage the hardware and software acquired under the agreement with the ARKH AR Controller and the new ARKH Development Kit, “to enable developers and the community to create unique AR experiences that users can monetize and share with others on the platform, which will eventually come to life on ARKH’s social AR platform, ”the company said.
AR powered wearable ring
ARKH says he will “define the future of AR” with his releases this summer. The company is creating a new intelligent AR ring and claims to have developed the first autonomous space computer for personal use, as well as what it calls the world’s first social networking AR platform.
The portable ring will work with a desktop hub and an app.
The hub will map virtual assets to physical spaces while the ring acts like a virtual controller, almost like a computer mouse. The app will work with the cameras of AR-compatible smartphones, giving users the ability to create their own personalized and shareable spaces.
“Not a single piece of AR that I’ve seen tackles AR in the same way,” he told Forbes. “In five years, I think everyone will understand the value of space computing and data.”
Subscribe to the list.
Dallas innovates, every day.
Sign up to keep tabs on what’s new and upcoming in Dallas-Fort Worth, every day.