Riga-based AR startup RedFrog raises €50K from Latvian accelerator Buildit

Latvian augmented reality social networking platform RedFrog has raised €50K from Latvian accelerator Buildit. The deal was closed in December 2023. 

Founded in Riga in 2022 by Madara Kalniņa-Kalnmale and Toms Zunna, RedFrog's application allows users to see real-time, vital information about other people around them with precisely tagged augmented reality overlays using Bluetooth identification. The RedFrog platform can provide an accuracy of up to ±20cm. 

According to the startup, RedFrog's solution will bring a new experience to event and venue attendees by creating seamless connections between individuals and businesses. Users will be able to find, filter, and navigate to connections that are meaningful to them. They will be able to strike up conversations with strangers in crowded places with less effort.

Users can view the augmented reality content through the Redfrog application on their smartphone or through augmented reality glasses. The technology uses signal processing to recognize the person and provide AR information without using image information. This preserves the user's privacy.

Buildit is a hardware and IoT startup accelerator. It provides between €10K to €50K in pre-seed investment to the best-performing startups and up to €250K in seed investment. Buildit's partners are Matīss Neimanis, Rene Tõnnisson, and Aleksander Tõnnisson. Recent investments include Latvian biotech SpirulinaNord and Latvian cleantech Peak Save.

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