Augmented reality experience maker Blippar has gone into administration.
The British start-up, founded in 2011 by entrepreneurs Ambarish Mitra and Omar Tayeb, said it was unable to secure additional funding from one of its shareholders.
We’re saddened to announce that Blippar has gone into administration today. We’re eternally grateful to all our team members, customers, partners, our board and investors who have been with us on this incredible journey https://t.co/BBxQ3O5MYH— Blippar (@blippar) December 17, 2018
Blippar’s technology allowed people to see augmented reality elements on their smartphone or tablet screen when held up to physical objects.
The immersive app was used in a variety of ways, from explaining how a volcanic eruption works to schoolchildren to providing consumers with games and recipes related to the products they buy.
“Blippar’s services are likely to come to a halt once the administrators take control of the business and its servers,” the company said on its website.
“As part of the administration process, all employees will be let go. This is an incredibly sad, disappointing and unfortunate outcome.”
Paul Appleton and Paul Cooper of insolvency firm David Rubin & Partners have been appointed as joint administrators.
“The appointment of administrators has arisen effectively as a result of an alleged dispute over continued funding,” said Mr Appleton.
“Following their appointment, the administrators are now exploring all possible options for the future of the business for the benefit of all stakeholders.”
- Press Association