InterApp, Pakistan’s first augmented reality (AR) startup, said on Wednesday that it raised $1.2 million in a pre-seed funding round.
According to a press release, the purpose of the funding by a US-based capital firm was to “make AR a necessary consumer tool and an opportunity for creators to sell their NFT (non-fungible token) on the InterApp marketplace that is currently in beta phase.”
The press release said that InterApp changes how people interact with print designs, by making them “live using AR in real time”. Creators can turn their designs into NFT and make them interactive with zero coding experience, the statement added.
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InterApp said its vision was to bridge the gap between the digital and physical realms in the consumer industry, adding that the investment would be used to boost marketing efforts and acquire 10 per cent of the total addressable market within a year.
