Ambarish Mitra, chief executive of Blippar, which had claimed to be a tech unicorn GETTY IMAGESA British technology start-up that once claimed it would be “bigger than the internet” has fallen into administration after investors failed to agree an emergency funding deal. Blippar is an augmented reality start-up founded in 2011 by Ambarish Mitra and Omar Tayeb, which allows users to scan objects with their smartphones to generate animations or special offers. It has previously claimed to be a “unicorn”, valued at more than $1 billion, and backers include Nick Candy, the property developer, and Qualcomm Ventures, the telecom giant’s investment arm. David Rubin & Partners, who was appointed as administrator of Blippar.com limited yesterday, said it was “effectively as a result of an alleged dispute over continued funding. “Following their appointment, the administrators are now exploring all possible options…

Source: The Times December 18, 2018 00:08 UTC