StretchSense has expanded its European headquarters in Edinburgh, launching a Centre of Excellence in artificial intelligence and spatial computing.
The New Zealand-based business, which specialises in motion capture technology for the gaming and animation sectors, also announced a £6.9m investment led by Par Equity and also featuring Scottish Enterprise and Kiwi venture capital firm GD1.
The funding is aimed at accelerating StretchSense's global expansion, with plans to grow its engineering team to meet customer interest in the compatibility of its technology with virtual reality tools in the market.
It will also focus on developing new sensor technology to enable precision tracking in emerging applications such as the corporate virtual training industry.
Founded in 2012 by chief executive Dr. Benjamin O’Brien, chief technology officer Dr. Todd Gisby, and bioengineering professor Iain Anderson, StretchSense has approximately 60 people globally, with a headquarters in Auckland and offices in Edinburgh and Seattle.
O’Brien commented: “With this investment we are expanding into the metaverse, focused on the key partnerships, new technology and investments in scale needed to build the future of how people will create, learn, work and play.
“Edinburgh is the perfect location as we grow our presence in Europe - right on our doorstep, there are world-class universities, a vibrant tech ecosystem, amazing talent and Scotland already has a strong reputation in the gaming sector.
“It’s a great fit, and we’re really pleased to have the support of Par Equity, Scottish Enterprise, and GD1.”
Tom Croy, senior investment manager at Par Equity, said: “StretchSense has developed technology that is transforming the creative industries sector including gaming and virtual effects, the company has hundreds of customers across the globe, and is well positioned to play a role in the evolution of virtual worlds.
“We look forward to being on the journey with Ben, Todd and the rest of the team.”
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