In 2013, Vitaliy Goncharuk founded Augmented Pixels. Based in Palo Alto, California, and Ukraine, the software company developed 3D mapping and geolocation software for drones, robots and augmented reality (AR) glasses.

Customers included Intel, LG and the company’s eventual buyer: industry heavyweight Qualcomm.

Augmented Pixels grew despite “immature market”

Augmented Pixels disrupted the outdated mapping industry with two solutions: CorpMap.AI and GlobalMap.AI.

CorpMap.AI was a B2B solution that optimized facility management operations and improved indoor logistics with AR navigation, AI analytics, and a maintenance ticket tracking system with shared locations.

GlobalMap.AI was a B2C solution for 3D maps crowdsourcing. The platform allowed people, called Global Mappers, to capture indoor and outdoor locations around the globe to help create a 3D map of Earth. Global Mappers would earn GlobalMap Coins or cash. Corporations interested in 3D maps and localization services could access the maps.

Two proprietary technologies, SLAM SDK and Navigation SDK, helped power these solutions.

You could say Augmented Pixels was ahead of its time. In fact, Goncharuk cited the “immature market” as one of his biggest hurdles to growth.

Even so, Augmented Pixels raised $7 million from investors, including ICU, AVentures Capital, 408 Ventures, and The Hive, according to The Kyik Independent.

The company employed more than 50 people at the time of sale.

From client to buyer: Qualcomm acquires Augmented Pixels

Goncharuk wasn’t looking to sell when Qualcomm approached him about buying Augmented Pixels, but “good timing and terms” piqued his interest.

Qualcomm, which creates semiconductors, software and services related to wireless technology, had been a client of Augmented Pixels since 2014 and “our core tech became very important to them,” Goncharuk said.

Goncharuk did not lean on a broker or investment banker. His LinkedIn lists his previous experience as an M&A and chief financial officer for a company of 5,000 employees, where he supported 10 M&A deals.

Qualcomm has been focused on accelerating its extended reality (XR) technologies with its Snapdragon XR technologies. In 2018, it announced the world’s first dedicated XR platform.

“We can assume that technologies and expertise of Augmented Pixels could help increase its department, Extended Reality (XR) — Mixed Reality, Virtual Reality, and Augmented Reality together,” The Kyiv Independent reported. “The last one is where Goncharuk’s team is the most strong.”

The acquisition was completed in January 2022 for high 8 figures, Goncharuk said. After the sale, Goncharuk joined Qualcomm as the director of XR spaces for one year, according to his LinkedIn. He told us is also working toward his executive MBA from Harvard Business School and has started two new companies, 12New.AI and SpatialFirst.AI, both of which are in the AI space.