Masters of Pie has developed software for next generation enterprise collaboration using augmented and virtual reality, which could see the technology become a reality in the enterprise.
The software allows VR and AR to be more efficiently used by professionals working in immersive design, production, review and training, across multiple enterprise verticals — such as manufacturing, construction and healthcare.
The company was founded by Karl Maddix, CEO, and Matt Ratcliffe, chief product officer, with a vision to build a collaboration platform to pull together these emerging technologies to bring a wide range of efficiencies to data-heavy applications.
The founders recognised that AR and VR can enable solutions that go beyond an alternative workspace: that they can transform the way teams communicate and interact.
The impact of AR and VR will be as big as the internet
The reality of VR and AR entering the enterprise has been boosted by Master of Pie’s development of ‘Radical’, a software add-in which can plug into existing enterprise software packages to add secure collaborative functionality for data-heavy 3D files.
Radical is already in use by more than 250 global engineering professionals across numerous sectors including aerospace, aviation, defence, automotive, consumer goods and manufacturing. The next generation of the technology is already live and in use by major organisations via its global channel partner, Siemens NX.
Matthew Burke, head of Technology Ventures, Williams Advanced Engineering, commented: “Our engineering design and manufacturing teams work on complex programmes with customers and suppliers across multiple locations and are acutely aware of the challenges of remote collaboration. We are therefore delighted to support the growth of Masters of Pie and its Radical 2D/3D collaboration platform which has the potential to transform the engineering workflow process.”
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It was announced today that Foresight Group, a leading independent infrastructure and private equity investment manager, and Williams Advanced Engineering a £1.5 million investment into Masters of Pie.
The Foresight Williams Technology EIS Fund led the funding round, which included Robert Bosch Venture Capital (“RBVC”), and follow-on funding from existing investor Downing Ventures.
The investment will enable Masters of Pie to continue to develop Radical for application in more industries and expand on its commercial partnership channels, accelerating product innovation and improving its software monetisation across multiple channels.
Commenting on the investment, Chris Wiles, senior investment manager at Foresight, said: “We are delighted to support Masters of Pie in the next stage of its ambitious growth strategy. We continue to be impressed by Karl and Matt’s vision of real-time collaboration with data-heavy 3D files and are excited by the value-add expertise which the Fund can provide to help Masters of Pie deliver on this vision.”
Maddix added: “The backing of Foresight and Williams Advanced Engineering, along with participation of RBVC, brings financial acumen and world-renowned expertise in engineering design and manufacturing to Masters of Pie as we continue to expand the use of Radical.”
“The team is delighted that an engineering pioneer like WAE has given us its backing – we are looking forward to working closely with its team going forward.”
Legal advice for the deal was provided by Sanjeev Sharma, Adam Leszczynski, Tom Wilde and Chris Moakes at Shoosmiths LLP.
See also: Immersive technology blurs the line between physical and digital worlds in business – Virtual, augmented and mixed reality technologies are rapidly becoming mainstream as the industry sector matures.