New York City-based Meural, a creator of a digital art frame, has secured USD 5 million in Series A funding. Corigin Ventures led the round with participation from other investors that included NETGEAR and Resolute Venture Partners.
Meural describes itself as a company innovating at the intersection of art and technology, and claim to be the creators of the only gesture-controlled digital art frame on the market.
This latest Series A funding, brings the total funds raised to date to USD 9 million. The round is led by Corigin Ventures, with participation from NETGEAR, Resolute Venture Partners, and angel investors including Elio Leoni Sceti and Eric Ries. This funding round is Meural’s second helmed by Corigin Ventures, which previously led a seed funding round of USD 3 million back in April 2016.
David Goldberg, General Partner at Corigin Ventures said “Since we first encountered Meural, we’ve seen the company grow from an ambitious idea to a fully-realized, boundary-breaking product unlike anything else on the market, with a dynamic platform to match. The traction that the product has seen among consumers has been remarkable. We believe that the Meural Canvas is the next great consumer electronics product, and look forward to supporting Meural’s entrance into this pivotal phase.”
In time for the holiday season, Meural will be introducing its flagship product, the Meural Canvas, in 137 brick and mortar retailers across six countries (U.S., Canada, U.K., Germany, France, and the Netherlands), including, with retail partner b8ta, the most visited store on earth—Macy’s Herald Square.
The Meural Canvas is a Wi-Fi-connected digital frame differentiated by Meural’s signature TrueArt technology—a meticulously-engineered combination of hardware, firmware, and algorithmic software which renders art and photography as vividly textured as a museum original. The Meural Canvas allows users to instantly display works from Meural’s art library, my.meural—a searchable, curated library of tens of thousands of licensed artworks, designed to spark discovery and provide limitless opportunities for home customization—or upload and curate their own personal art and photography. The Canvas is easily controlled via the Meural mobile app or with gesture control; a wave of the hand allows users to browse individual artworks and curated playlists, as well as access settings. The new Meural Membership provides users unlimited access to Meural’s art library, and supports Meural’s continued commitment to fair compensation for artists and rights holders.
Vladimir Vukicevic, Meural CEO and Co-Founder told us “In our first two and a half years of business, the Meural Canvas has reached walls in 60 countries, and grown to thousands of active users. We’ve seen that both visual art and technology act as universal languages. Because of our unique position at the intersection of these two disciplines, we feel confident in our product’s ability to connect with audiences on a global scale. We’re thrilled to join forces with retail partners who believe in the market appeal of the Meural Canvas, and will act as ambassadors for our mission of democratizing art across the world.”
Jerry Hu, Meural CRO and Co-Founder added “We’ve always known that the Meural Canvas is something that needs to be experienced in person. The magic of discovering art on the Meural Canvas with a wave of your hand, and experiencing famous artworks in such lifelike detail, is something that can only come from an in-person interaction with the product,” says . “We believe that our launch in retail stores, along with this new round of funding, will be the fuel that takes us further into mainstream adoption, and drives us closer to our vision of bringing art into every home.”