Layar Scoops Up $14 Million from Intel Capital

We haven’t heard much about augmented reality browser Layar recently, but that doesn’t means that it’s dead. The company announced today that it snagged $14 million in a funding round led by Intel Capital. Which leads us to the question of why Intel would invest in such an underused technology (when was the last time you used Layar?)

The short answer: cash. According to Juniper Research, sales in the mobile augmented reality market are estimated to reach $732 million by 2014. Last week, Layar announced that it has one million active users of its mobile applications–up from 700,000 in June. And while the Dutch company doesn’t have a big U.S. presence at the moment, that could change quickly–Layar plans to generate permanent presence in the Bay Area in the near future.

Armed with cash from Intel, Layar will work with more third-party developers and brands on building and investing in new layers for the augmented reality platform.

Layer currently offers three main products–a mobile reality browser for iPhone, Android, and Bada’ a mobile software player to embed augmented reality into mobile apps, and a platform for developers.

Ariel Schwartz can be reached on Twitter or by email.AS