The founder of augmented reality app Blippar said he feels “embarrassed and ashamed” for lying on his CV, as he prepares to represent Britain at the world entrepreneur of the year awards in Monaco.
Ambarish Mitra, 38, centre, was recently exposed for falsely claiming that he had studied at the London School of Economics before founding Blippar — and that he had previously founded a business in India that he subsequently listed on the stock market.
“I don’t know what got into my head and I take full responsibility for it. There was no agenda,” he said. “It is a shame that my CV is in question. I’ve never hired anyone based on their grades and stuff like that.”
Mitra’s technology allows smartphones to identify real-life objects, and tap into information about them from the digital world. Consumer brands ranging from McDonald’s to Heineken and Heinz are using the app to run customer competitions and marketing promotions.
It has so far raised more than $100m (£77m) from investors including property tycoon Nick Candy and Lansdowne Partners, but said it would need to raise new capital in the next 12 months. Mitra said “the bad press has not been helpful”. He added: “I’m deeply apologetic.”
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The company made losses of £26m in the year to March 2016. Last year it closed its Amsterdam office and more recently cut staff in Japan.