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Librestream sets sights on augmented reality growth with latest financing

Librestream is looking to expand the reach of its augmented worker enterprise solutions thanks to the raising of another C$24 million ($17.7 million) from new and existing investors.

This Series D raise brings total financing to over C$55 million, the company said.

The financing will be used to accelerate customer acquisition and growth in expanded geographic and vertical markets, Librestream said.

“As a core part of this growth, the company will invest in sales and marketing expansion and the advancement of its Onsight augmented worker platform,” it added.

Librestream’s Onsight augmented reality enterprise platform has been built to perform in rugged environment including areas with extremely low bandwidth. Backed by central management, Onsight offers valuable insights through robust data analytics and dashboards, the company says.

Onsight Connect remote expert software delivers a fully collaborative environment to rapidly troubleshoot, inspect, and resolve issues in the field, according to the company, leveraging advanced AI and IoT visualisation capabilities to create intelligent data that enhances decision making and informs machine-learning models.

The Connect software powers a full range of mobile devices including smartphones, tablets, computers, and smart glasses. When integrated with advanced computer vision (CV) artificial intelligence, Onsight CV recognises the content of digital images and extracts text, objects, and any other identifying markers using Object Character Recognition (OCR) and object classification and detection.

The platform includes IoT visualisation capabilities to inform decisions by displaying aggregated IoT data from relevant sensors onscreen. Using IoT visualisation, workers can access this information through OCR and view the data in graphs, charts or tables.

“Deployed globally, Onsight scales with your operation,” the company said. “Controlled and secured by a robust back-end management solution and infrastructure, Connect meets the needs of the most stringent IT and security environments.”

One of the companies to use Onsight technology is Australia-based Orica, a provider of commercial explosives and innovative blasting systems, sodium cyanide for gold extraction, and ground support services.

The company, Librestream says, has been using the augmented worker enterprise solution to assist with the deployment of new, complex equipment in remote areas like mountainous regions of Latin America, the deserts of Australia and the plains of South Africa.

“This equipment is extremely specialised and requires workers to follow explicit instructions to capture data around the machinery,” Librestream says of Orica’s offering.

Much of the use of Onsight revolves around worker safety as Orica deals in explosives for mining applications, Librestream said. “However, it has also brought about increased efficiency as well.”

Orica is also looking closely at leveraging Onsight for asset identification and remote assistance in its flagship blasting products, according to the company.

Librestream says it experienced tremendous growth over the past 36 months as the needs of the remote workforce and immersive technologies became top priorities for digital transformation. This saw the size of customer deployments grow by more than 250%.

John Bishop, President & CEO at Librestream, said: “Digital transformation initiatives traditionally focused on digitising systems and assets, often leaving people out of the equation.

“Librestream’s focus on providing workers with a digital connection to information enables safe, effective performance – whether on an oil rig, a manufacturing floor, or in an aircraft hangar.”