$1,000,000 investment will see company's beta version go live.
FREDERICTON, March 31, 2014 /CNW/ - Web 3.0 is on the horizon and Agora
Mobile is in sight. The Moncton, New Brunswick based company today
received a $1,000,000 venture capital investment to fund the launch of
a social network for mobile apps. The New Brunswick Innovation
Foundation (NBIF) invested $500,000, with the remainder provided by
East Valley Ventures and several angel investors.
The current mobile app development industry is rife with incompatible
hardware platforms, operating systems and programming languages. Plus,
it is becoming increasingly difficult for developers to build apps that
work on everything Apple, Android, Windows and Blackberry. With Agora,
anyone can now create apps that work on all mobile devices that never
have to be downloaded or updated.
"In the 1990's Web 1.0 was all about buying and downloading software and
installing it on your computer. Web 2.0 was all about using software
through your browser or 'the cloud' for a fee," says Agora's CEO and
co-founder Simon Gauvin, "Web 3.0 is doing for smartphones what Web 2.0
did for personal computers—apps delivered through the phone's web
browser instead of downloading and constantly updating them, eating up
Agora's patented system gives app builders, from beginners to experts, a
visual, instead of textual, (a.k.a. computer code) development tool for
the creation and testing of apps. The social network provides a
platform for the delivery and sale of apps to its members - replacing
the app store. The company has recruited hundreds of students of all
ages across Atlantic Canada to build and test apps as they fine-tune
the current version, now in private beta.
"This is a perfect example of what's called disruptive innovation, and
what we like to see. Companies that can take something that is
currently very expensive and time consuming, and make it less expensive
and more accessible to people that need it, but can't afford to do the
way it's done right now," says NBIF chair Robert Hatheway, "there are
over 500,000 apps that have been downloaded 25 billion times, and the
mobile sector of ICT is growing fast, and so will Agora with it."
The New Brunswick Innovation Foundation (NBIF) is an independent, not-for-profit corporation that invests in new
growth-oriented companies and applied research activities. With over
$50 million invested, plus $275 million leveraged from other sources,
NBIF has helped to create over 50 companies and fund 350 applied
research projects since its inception in 2003. All of NBIF's investment
returns go back into the Foundation to be re-invested in other new
companies and research initiatives.
Image with caption: "With Agora, anyone can now create apps that work on all mobile devices that never have to be downloaded or updated. Simon Gauvin, Founder & CEO. (CNW Group/New Brunswick Innovation Foundation)". Image available at: http://photos.newswire.ca/images/download/20140331_C7617_PHOTO_EN_38464.jpg
SOURCE: New Brunswick Innovation Foundation
For further information:
Simon Gauvin, Founder & CEO