‘Augmented reality’ company lands $10M in new financing

Kettering company draws $14M in investment support total

Virtual reality software and app producer Marxent, which has a Kettering presence, has secured $10 million in a new investment round, the company says.

Marxent Labs LLC has attracted $10 million in Series B funding “for its promise of bringing virtual and augmented reality experiences to retailers and manufacturers,” the Wall Street Journal said in a story Monday.

The company wants to be a content management system for virtual reality and provide augmented reality for commerce, the Journal said. Detroit Venture Partners and Stage 1 Ventures led the new investment round, and so far, the company has raised $14 million.

Marxent, founded in 2011, also has offices in Tampa, Fla. and Detroit.

Last year, the company told the Dayton Daily News that it had more than doubled its workforce over the past 16 months, expanding to about 50 developers, 3-D artists and designers. In addition, Marxent had also added about 2,000 square feet of space to its engineering and operations office at 3100 Research Blvd., increasing the facility’s size to 6,000 square feet.

At the time, Marxent intended to add another 25 jobs over the next 12 to 18 months, and to be a $100 million-plus company in five years, said Beck Besecker, the company’s chief executive.

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