Startup Kino-mo, founded by the Belarusian developers Kiryl Chykeyuk and Artem Stavenka, has signed an investment agreement with Mark Cuban, an American businessman and investor whose investment portfolio includes over 50 companies.
The London-based company develops ‘plug-and’play’ devices that project holograms in the air. The technology can be used for outdoor advertising.
Last year Kino-mo won Richard Branson’s Pitch to Rich competition. The company has received a number of other British awards, worked with global brands from Samsung and Intel to Aston Martin and was awarded Top 3 British inventions of the year.
Mark Cuban, also known as the owner of an NBA’s basketball team, the chairman of the HDTV cable network AXS TV and a “shark” investor on the television series, tested Kino-mo’s technology in Texas for several weeks.
“We have answered dozens of Cuban’s questions during the testing. The talks, that started over six months ago, have recently ended with signing an agreement. Every victory opens up new possibilities for our project. It enables us to speed up the development process and to bring the start of the mass production of the device closer”, Artsiom Stavenka said.
Under the terms of the agreement, the parties did not disclose the sum and conditions of investment. The money will be used to prepare additional patents, launch the manufacturing of the devices and expand the team.
At present, Kino-mo’s displays are being tested by partners and distributors in 17 countries. A number of famous brands, including Red Bull, Unilever and Virgin, are interested in buying the devices and are waiting for the start of the official sales.
Kino-mo is headquartered in London, with the development concentrated in Minsk. There are 15 people working in Kino-mo’s Minsk office and 5 people in London.