ART Labs Receives Investment With 2 Million Dollars Valuation

art labs received investment with a million dollar valuation
art labs received investment with a million dollar valuation

Deep technology initiative ART Labs, which allows e-commerce sites to create an augmented reality experience effortlessly, completed its pre-seed investment round with a valuation of $ 2 million. Kültepe Investment and EGİAD In addition to his angels, there were also angel investors from abroad.

ART Labs, which attracted attention by reaching more than 3 member restaurants in 200 countries and more than 40 thousand active users per month with the augmented reality (AR) supported eating and drinking assistant Diner, in 2019, Uğur Yekta Başak, Dr. It was founded by Mahdi Kazempour and Sercan Demircan.

Company founding partner and CEO Uğur Yekta Başak stated that they have opened the technology they offer with Diner to the use of high-volume marketplaces and leading brands as well as the food and beverage industry; He underlined that they also target the home decoration, footwear, fashion, accessories and toy sectors.

According to the statement made by ART Labs, companies using the platform can add an augmented reality experience to e-commerce sites without coding. The creation of 3D images of the products to be presented is provided by a cloud-based system powered by image processing and artificial intelligence algorithms. It is possible to present tens of thousands of products with AR experience. In this way, benefits such as an increase in sales and a decrease in return rates are maximized thanks to a large AR-supported catalog.

Touching on how to evaluate the new investment, Uğur Yekta Başak said, “With the pandemic, the perspective towards stores is changing in the changing world. On the e-commerce side, there is a permanent growth. Augmented reality enables customers to experience the products they will buy in advance. In this way, it provides the closest digital experience to being physically in the store and answers many questions of the customer during the decision-making phase. The comprehensive technology we have developed makes taking advantage of augmented reality very easy for existing companies. As one of the pioneers of transformation, we will increase the number of countries we serve and complete the seed investment tour in 2021 ”.

This investment tour revealed a good story. EGİADFirst met Uğur Yekta Başak with a high school achievement award in 2008. Now they have become part of the venture with their angel investor network.

ART Labs, one of the KWORKS startups, graduated from the ERA Accelerator Pre-Explore Program last quarter and is part of the AI-focused NVidia Inception program.

The names participating in the investment tour are as follows: Kültepe Yatırım AŞ, İbrahim Ulukaya, Tevfik Gemici, Kadir Orhan Arı, Osman Gıldıoğlu, Filip Minasyan, Uygar Mesudiyeli, Alp Avni Yelkenbiçer, Frederic Pagy, Özveri Yandaş Okay, Özüm İlter Demirci, Levent Kuşgöz, Murat Çekirdek, İskender Kökey, Hakan Mehmet Maltepe and Orhan Serkan Özkan.

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