STL Startup Candy Lab Receives $300K from Texas Investor
A highlight of ALIVE’s February Innovation Issue, St. Louis-based augmented-reality marketing company Candy Lab has received a generous $300,000 from Texas investor Judge Scott.
Candy Lab is a local startup that composes custom apps to create a unique experience for users to engage in and connect with different locations throughout the city. A recent project from their newest division, CandyBAR, used the augmented reality tech to take its participants on a citywide scavenger hunt to collect “virtual cakes” in a celebratory game for St. Louis’ 250th birthday.
The location-based augmented reality app has been taking the marketing world by storm since its big move to St. Louis in 2013 after being awarded a $50,000 Arch Grant. Since then, Candy Lab has received about $500,000 in funding and has partnered with cruise liner Carnival Corp. The resulting app gives users a chance to win free cruises by collecting virtual cruise ships at strategic locations across the nation.
Another $20,000 has come the company’s way in equity investment from Hawaiian tourism tech accelerator Blue Startups, according to the St. Louis Business Journal, with the potential for matching funds of up to $50,000 through the accelerator in the near future.
At the end of 2014, Candy Lab was up in sales with $860,000. Their anticipation for 2015 will be an ambitious $3.5 million—some of which, Couch hopes, will be a result of a massive roadtrip across the US that he and co-founder Gilda Campos will venture out on following their three-month stint in Hawaii at the Blue Startups accelerator.