New Zealand technology company StretchSense has announced plans to open its European headquarters in Edinburgh.

The expansion, which follows a £6.9 million investment round led by Par Equity, will see the firm open a new Centre of Excellence in AI and Spatial Computing.

Founded in 2012, StretchSense is a global leader in high-precision motion capturing technology, with customers spanning the gaming and animation sectors.

It currently employs 60 people worldwide, and has offices in Auckland and Seattle.

StretchSense said the move will help expand its engineering capabilities to meet strong customer interest in its technology, which also includes industry-leading VR tools.

According to co-founder and CEO Dr Benjamin O’Brien, Edinburgh represents an ideal location as the firm continues its global expansion.

He said: “Edinburgh is the perfect location as we grow our presence in Europe. Right on our doorstep, there are world-class universities, a vibrant tech ecosystem, amazing talent, and Scotland already has a strong reputation in the gaming sector.

“It’s a great fit, and we’re really pleased to have the support of Par Equity, Scottish Enterprise, and GD1”

Emerging applications

The firm will also focus on developing new sensor technology to enable high-precision tracking in emerging applications, such as the rapidly developing corporate virtual training industry, which is expected to grow to more than $550bn by 2027.

Tom Croy, Senior Investment Manager, Par Equity, commented: “StretchSense has developed technology that is transforming the creative industries sector including gaming and virtual effects, the company has hundreds of customers across the globe, and is well positioned to play a role in the evolution of virtual worlds.”

Kerry Sharp, Director of Entrepreneurship & Investment at Scottish Enterprise, added: “Scotland is one of the top games and software developer locations in the world, with a pioneering reputation based on our rich heritage with titles like the Grand Theft Auto series, Lemmings, and the console edition of Minecraft.”

“It’s fantastic to see StretchSense choose Scotland for its European headquarters, and our investment will help this highly innovative company pursue its ambitious International growth plans.”

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