Hyped AR Tech Firm Blippar Collapses Into Administration

[Tipup]

One of the great hopes of the UK tech sector, Blippar, has collapsed into administration over a funding row. BBC News reports:
The augmented reality firm was co-founded by Ambarish Mitra, and its technology was used in a partnership with the BBC's Planet Earth II series. Blippar was one of the UK's tech "Unicorns" -- start-up businesses that are worth $1bn or more. Mr Mitra became a brand ambassador for the UK to promote British innovation around the world. He claimed to have founded his business from a Delhi slum, leading him to be dubbed a "real-life Slumdog Millionaire". However, the Financial Times ran a profile disputing many of Mr Mitra's claims about his birth and his business development. 

It seemed to be one of the brightest stars in London's tech firmament, raising big sums from American and Malaysian backers who bought into the message that augmented reality was the next big thing. So why has the Blippar bubble burst? A few years ago it did appear to have something groundbreaking -- you could point its phone app at everyday objects and they would animate into action, give you useful information or serve up an advert. 

But the business appeared to depend on a very fickle set of customers -- advertising agencies wanting to use its augmented reality tools in their campaigns. Not only are much bigger firms offering similar technology but big brands seem to have concluded that it's a gimmick whose time may already have passed. What's more Blippar suffered from a lack of focus, trying out a range of ideas -- making an app for Google Glass, opening a Silicon Valley office, launching a facial recognition service.