In an attempt to explore the possibilities in the virtual reality arena, Alibaba Group Holding Limited, the Chinese multinational conglomerate has acquired Infinity Augmented Reality, an Israeli virtual reality startup, according to a report by TechCrunch. The deal’s terms have not been disclosed.
As per the report, Alibaba and Infinity Augmented Reality have been in a strategic partnership since 2016 when Alibaba led Infinity Augmented Reality’s Series C round of funding. Since then it has been a case of growing trust and collaboration between the two players who have collaborated and worked together on a number of projects involving augmented reality, computer vision, and artificial intelligence projects.
Founded in 2013, InfinityAR has been on an upward slope since then and its main aim has been at creating a new digital environment that will make it easier for people to interact with augmented content in their physical surroundings, all by creating a new Mixed Reality platform that will digitally enhance every person’s physical world.
Speaking about the acquisition, Motti Kushnir, CEO and co-founder of Infinity Augmented Reality said, “We look forward to joining Alibaba, a world-class innovative global technology company, and as part of the company’s Israel Machine Vision Laboratory.”
This is not a new field for Alibaba which dipped its toes in the virtual reality arena for the first time some three years ago when the Chinese conglomerate invested in the Magic Leap and subsequently announced the opening of a new lab in China which dealt with incorporating virtual reality into its e-commerce platform.
As per the report, the research and development team at Infinity Augmented Reality will start working in close association with Alibaba’s Israel Machine Laboratory, part of Alibaba DAMO Academy, the R&D initiative into which the Chinese e-commerce giant has invested nearly $15 billion with the aim of catering two billion customers and creating 100 million jobs by 2036.
It remains to be seen how this acquisition will help Alibaba in its endeavor to integrate augmented reality into its operations but the signs on the ground look promising.