West Indian cricket player Chris Gayle has picked up a minority stake in Bengaluru-based augmented reality venture FlippAR in lieu of endorsing the brand. The development comes merely two months after Gayle’s debut investment in Bangalore-based virtual gaming firm IONA Entertainment, a gaming startup that brings one-stop entertainment to Indian sports fans.
Confirming the development FlippAR Founder Vivek Jain said, “The West Indian great Chris Gayle has picked up a minority stake in our venture. Gayle will be endorsing the brand and initiate campaigns across the world.”
Jain further revealed that the investment agreement was signed four days ago with the help of Dinanath Ramnarine, who is considered to be Gayle’s close aid. The terms and modalities of the agreement are still being worked out. “Ramnarine was the man who backed Gayle in his standoff with the West Indies Cricket Board. He is one of the most respected cricket administrators in West Indies,” he added.
FlippAR has been providing Augmented Reality development services for over 2 years and developing mobile applications for more than 3 years now. The startup helps companies provide better customer experience because of its experience with customer service and technology integration. It develops Augmented Reality applications that adds a huge value to its users, by being able to make better purchase decisions and be able to present interactive information.
FlippAR currently has a team of six employees. It competes with the likes of London-based heavily-funded visual discovery app Blippar.
The startup is accelerated by France-based accelerator programme NUMA. Earlier, it had raised Rs five lakh fund under a scheme initiated by Karnataka government this March. According to Jain, the startup has plans to raise more funds from private investors as it is looking to expand its business in near future.