Member Article

Prizes instead of Pokemon AR app secures early-stage backing from Unilever

New augmented reality (AR) gaming app, Snatch, that gives players the chance to win real-world prizes from high-street brands has just sealed significant investment from Unilever Ventures.

The London-based app, which has only been live for two months, has secured the six-figure backing after announcing a string of tie-ups with big names including TopShop, All Bar One, Just Eat and Now TV.

Touted as a new way for businesses to market to their customers, the app utilises a user’s smartphone location with AR technology and sees players vying for virtual parcels which contain real-world prizes.

Players locate parcels nearby through the app and must then hold on to the parcel for six hours, preventing them from being ‘snatched’ from others, before the prize is revealed, with one current top prize offering to pay a player’s university fees for a year.

Thought up by forensic scientist, Joe Martin, who is also Snatch’s Chief Executive Officer, the startup says that 50,000 parcels have already been ‘snatched’ by players despite only launching two months ago.

Martin explained that his science background inspired an interest in human behaviour, and believes the app challenges ‘habits and preconceptions’ about the way people lead their everyday lives.

He said: “Brands need to go beyond speaking at consumers and start interacting with them instead. We want to challenge brands to engage with consumers in a new way – by letting them discover their products through our platform.

“Augmented Reality is an incredible way for players to integrate the game into their everyday life and opens up an opportunity for brands to reach potential consumers at multiple touch points.”

Unilever’s backing make sense in light of the branding and marketing opportunities afforded by the Snatch app, and is particularly noteworthy as its investment arm rarely make pre-seed investments of this nature.

Jan Harley, Director, Unilever Ventures, commented: “Over the past year, augmented reality has gone from a novelty to a real part of our day-to-day lives. We believe that Snatch has the potential to transform the way brands are engaging with consumers.

“Immersing people in an interactive environment where they’re actively seeking out products and feeling the elation of winning something tangible, is a really exciting addition to the marketing toolkit. It’s an exciting period for the industry and something we’re keen to be part of.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →