Essex augmented reality firm secures five-figure funding to bring products to market

An augmented reality (AR) business has secured six-figure funding from HSBC UK to develop and launch its range of entertainment products.

AliveLab has secured a £42k overdraft facility to develop its own brand of products named Mardles, which includes stickers, colouring books and fancy-dress masks designed for young children.

The bank’s funding has also enabled the company to begin selling its products on UK TV shopping channels, acting as a tester for future opportunities with global channels.

Sharon Wyness, co-founder of AliveLab, commented: “The funding from HSBC UK has helped AliveLab to continue to grow by developing new and exciting products at a rapid pace.

“The bank has always shown a keen interest in what we do and we’re looking forward to demonstrating to our customers and new audiences how fantastic and interactive our new product line is.”

Neil Fleming, relationship manager for business banking at HSBC UK, added: “AliveLab has been a customer with us since 2015 and we have loved seeing the company grow and expand in new markets.

“We hope this funding will help them to continue to breach new horizons and offer augmented reality experiences to even more customers around the world.”