Interior Designing and home furnishing firm Gloob Decor has acquired gaming and application development startup Banana Interactive for an undisclosed amount.
Post this acquisition Gloob aims at becoming a market leader in augmented Reality enabled interior designing so as to give 3D experience to its customers in the office furnishing space. Banana Interactive will now lead the visual app development at Gloob.
Founded in 2011 by Kunal Sharma and Ankur Muchhal, Gloob Décor is one of the major players in the space in Bangalore with over 5000 products and 100000+ variants across several categories.
"Gloob envisions the idea of combining cutting edge hardware with technology enabled applications to create Special Experience Zones for retail showrooms, wherein the customer can design their desired furniture by selecting each modular element and see it projected on a wall with real objects like bookshelf, vase, center table etc. to get an accurate feel of the space. Banana Interactive team brings with them a valuable skill set of gamification of this experience and thus we are very excited about this development.”, said Mrinal Sharma, Gloob Décor - Partner.
“In future such functionalities will have Augmented Reality wherein people will be able to view objects in 360 degree format in their home environment and making structural changes to the objects.”, said Ritesh Ranjan, Banana Interactive - Cofounder.
The Election Runner, a game launched by Banana Interactive Games has seen between 5K-10K downloads.
Times Internet, the digital arm of The Times of India Group and Microsoft have reportedly infused $1 Bn in US based taxi-hailing service Uber Technologies which takes the total funding amount to $5.3 Bn valuing the five year old company at $51 Bn.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.