BREAKTHROUGH VICTORIA INVESTS IN CUTTING EDGE AR COMPANY JIGSPACE
Breakthrough Victoria is investing AUD $4.4 million in JigSpace, leading the $13 million round, joined by Aura Ventures and Anorak Ventures, with follow-on from existing investors including Rampersand, Investible, Vulpes and angel investor Hugh Bickerstaff.
JigSpace is a cutting-edge augmented reality (AR) company founded and developed by a talented team based in Victoria.
This investment by Breakthrough Victoria into the Melbourne-founded company will drive growth in the burgeoning AR market and create up to 40 jobs by 2028, with the company expected to be employing 80 staff by 2030, including highly skilled technology, product development and core leadership roles.
JigSpace’s platform revolutionizes how complex products, processes, and concepts are communicated, enabling users of any technical level to turn CAD models into 3D presentations – called “Jigs” – for training, sales, marketing and product education. Their intuitive tools empower organisations to make the hard to explain, hard to forget.
Much like Canva transformed 2D design, JigSpace is poised to democratise 3D visualisation, with a particular focus on training, sales and marketing in the durable manufacturing sector, a market valued at US$1.5 trillion. The overall global spatial computing market is projected to grow at a CAGR of 19 per cent to US$519 billion by 2032.
JigSpace has already achieved remarkable success, featuring in four Apple keynotes, including Vision Pro, which launches in Australia today. JigSpace is also a pre-installed demo app on iPad and Vision Pro at all Apple store locations, worldwide.
This recognition underscores the superior capability of JigSpace's product and team, validating its position as a leader in the AR industry. Notably, JigSpace is the only productivity app on Apple Vision Pro to have been downloaded over 50,000 times, far surpassing other apps.
While conducting media interviews for the Australian release of the Apple Vision Pro, Apple CEO Tim Cook said the Victorian company was ‘doing incredible things…[and] something you can’t really do on a flat, 2D screen’.
Quotes attributable to Breakthrough Victoria CEO, Grant Dooley
“JigSpace is often referred to as the next Canva, and this investment is a testament to their potential to revolutionize the AR industry. We are excited to support their vision and growth, which will not only drive economic benefits but also solidify Victoria’s position as a hub for technological innovation.”
Quotes attributable to JigSpace CEO Zac Duff
“The era of spatial computing has arrived, and we’ve spent years positioning JigSpace at the forefront of this technological shift. There’s no reason why we can’t build market-leading companies in Victoria, I’m excited to anchor JigSpace here and continue developing our world-class product and technology. This investment allows us to expand our team in Melbourne, open our first offices in the US, and continue innovating as a leader in spatial computing.”
Quotes attributable to Aura Investment Manager Eric Tran
"Spatial computing will be a key part of the future of work. Combined with AI, the technology will revolutionise industries by adding unprecedented depth and immersion to data and content for collaboration and communication. If a picture is worth a thousand words, a 3D model is surely worth a thousand pictures.
“JigSpace is one of the most important companies as pioneers in this category. By democratizing interactive 3D presentations for everyone they are taking us beyond what is possible today when it comes to knowledge transfer and communication and so we’re extremely excited to support the journey of Zac, Numa and the JigSpace team."
Quotes attributable to Anorak Ventures Managing Partner Greg Castle
“JigSpace’s blend of enterprise product and technology in an intuitive and delightful package is world-class. Now as Vision Pro hits the market, their partnership with Apple has put them front and centre of spatial computing. I’m excited to invest in the team at JigSpace as they kick off this new chapter.”