New Ideas fund bets in Augmented Reality

New Ideas fund bets in Augmented Reality

The New Ideas fund, through H Capital, invested in a Portuguese startup of augmented reality for industrial maintenance, Glartek.

Glartek, a startup that develops solutions based on Augmented Reality for industrial maintenance, closed its first funding round with an investment of 1.5 million euros. This financing operation brought together EDP Ventures, Novabase Capital, H-Farm and H-Capital, the latter through the New Ideas fund, of which Proef and EFACEC are also part.

Glartek is a Portuguese technology company, founded in 2017, that has been developing and testing an industrial maintenance platform, based on augmented reality, which intends to revolutionize the way information is available in the industry 4.0. Its main objective is to facilitate quick and organized access to all relevant information of the different types of equipment in an industrial environment. The platform enables the operator, through augmented reality, to access and visualize, in real time, all the information he needs on the factory floor, e.g. Glartek has developed and tested the platform in the energy sector, such as EDP's example, with a pilot project in one of its hydropower plants, as well as in the automotive, real estate and food sectors in countries such as Portugal, Spain, Italy and Slovenia.

According to Luís Murcho, Co-founder and CEO of Gartek, "Augmented Reality is seen in Glartek as a way to expand the capabilities of any worker within the industrial environment, giving him the ability to see information around him, allowing him to perceive very fast what he has to do and how he can act in the equipment around him. This new platform will reduce downtime for installations, reduce maintenance costs, increase learning efficiency and minimize human error.

This is significant funding for Glartek which now prospects to enter in three new countries and strengthen its teams based in Leiria and Lisbon.

Glartek - Industry has a new reality
Source: YouTube Glartek


Related Link: Discover more about Glartek here!