vTime Launches Cross-World AR Avatar Messaging App vTag Globally, Backed by a $4.1 Million Series-A Top Up

LIVERPOOL, England, Oct. 29, 2020 /PRNewswire/ — vTime, a global leader in virtual communications and immersive multi-user experiences, today launches social AR app vTag globally* on iOS. vTag uses cutting-edge augmented reality (AR) technology to enable users to create, share, and discover 3D avatar moments. The launch is backed by a $4.1 million series A top up, currently being closed by Deepbridge Capital.

vTag is the first app to combine customisable, face-tracked, body-tracked, full-body avatars with AR geo-messaging, primed to take advantage of the AR cloud. The app empowers users to create bespoke avatars, then bring their creations to life using their voice, expressions, and body movements in a vTag – a sharable 3D moment.

Using the latest AR technology such as body tracking and human occlusion, vTag takes advantage of the iPhone 12 and iPad Pro’s LiDAR functionality to add object occlusion and uses machine learning for avatar creation. vTags can be sent directly or pinned to real-world locations. vTag can also be used to create content for social platforms.

vTime MD Clemens Wangerin said: “vTag is the next step on vTime’s journey to connect people using alternate realities. vTag brings your hyper-personalised virtual moments into the real world and uses geo-tagging technology to offer an exciting glimpse at a personalised AR cloud. vTag enables users to send more than a message – people are sending 3D moments, a new form of self-expression to stay connected, create content, and engage with the people who matter.“

vTime raised $7.2 million in 2018 in its initial series A funding round led by Deepbridge Capital, utilising the Enterprise Investment Scheme. Deepbridge has added a further $4.1 million to the round, bringing total investment to $11.7 million when the round closes. vTime’s roadmap includes plans to expand the app with content from brands and artists, and onto new platforms, including AR wearables.

*not available in China

About vTime

Founded in 2013, vTime is a leading AR, VR and MR engagement company, developing immersive communication experiences across new realities. Its flagship product vTime XR, a cross-platform sociable network that allows anyone, anywhere to socialize in AR and VR, is used in over 190 countries with more than a million downloads since 2015. Once the current round closes, vTime will have secured Series A funding of $11.7 million since 2018. www.vtime.net

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SOURCE vTime Limited