Snap acquires 3D AR solutions provider Vertebrae for undisclosed sum

Snap, the parent company of Snapchat, has acquired 3D & augmented reality (AR) commerce solutions provider Vertebrae for an undisclosed sum.

According to the company, Vertebrae's team will keep developing the platform for existing and new clients.

"We're thrilled to join Snap, where we will strengthen and scale our world class 3D asset platform for retailers and brands," Vertebrae CEO Vince Cacace told The Verge.

Vertebrae has raised about $10 million in venture funding to date, and has Toyota, Adidas and some other well-known brands as clients.

The startup also worked with Facebook on AR shopping tech in 2019, the report said on Monday.

Snap in May acquired augmented reality (AR) display provider WaveOptics, that power its new Spectacles glasses, reportedly for more than $500 million.

Snap recently unveiled the next generation of Spectacles, its first pair of glasses that bring augmented reality to life.

Founded in 2014, WaveOptics had raised $65 million in funding to date.

Snap has also announced new features, latest updates and Augmented Reality (AR) experiences, like new AR tools and camera experiences, the next generation of Spectacles and launched ‘Story Studio' -- a new standalone app offering powerful editing tools to creators on mobile.

Popular social media platform Snapchat has reached over 500 million monthly active users, with roughly 40 percent of its community located outside of North America and Europe.