Varjo, maker of high-end enterprise XR headsets, this week introduced it has raised a $40 million Collection D funding to proceed constructing its Varjo Actuality Cloud software program and ship a “true-to-life industrial metaverse.”
Varjo makes among the highest-end enterprise XR headsets in the marketplace, together with distinctive software program options, claiming just lately that one quarter of Fortune 100 corporations have used used its tech.
This week the corporate introduced it has raised $40 million in a Collection D funding. Members within the spherical embody returning traders EQT Ventures, Atomico, Volvo Automobile Tech Fund, and Lifeline Ventures, and new traders Mirabaud and Foxconn, the latter being one of many world’s largest electronics producers and a possible strategic accomplice for Varjo.
The main investor within the spherical was not made clear. The increase brings Varjo’s complete funding to $162.5 million since 2017, based on Crunchbase, and represents a down-round in comparison with the corporate’s Collection C funding of $54 million in 2020.
“Our new funding is a testomony to the unbelievable progress Varjo has seen over the previous few years as curiosity for enterprise XR adoption grows,” mentioned Timo Toikkanen, Varjo CEO. “The imaginative and prescient for a true-to-life metaverse for professionals is already right here, and we’re proud to be the primary and solely firm on this planet to proceed to ship human-eye decision digital and blended actuality know-how to the most important and most iconic enterprises on this planet.”
The so-called “metaverse for professionals” isn’t clearly outlined by the corporate although it ostensibly refers to Varjo Actuality Cloud, the corporate’s cloud-based XR streaming tech which goals to streamline the usage of XR inside massive organizations. The corporate plans to increase the platform to a wider vary of {hardware} and software program, together with headsets aside from its personal. Take a look at our unique preview of Varjo Actuality Cloud earlier this 12 months.
Alongside the funding announcement Varjo additionally named a brand new Chief Product Officer, Patrick Wyatt, who is claimed to be main the corporate’s software program and cloud initiatives.
Past its enterprise ambitions, Varjo additionally just lately dipped a toe into the prosumer area with the discharge of its high-end Aero VR headset which, for the primary time, may very well be purchased by normal shoppers with none sort of month-to-month price. The corporate’s Collection D funding announcement didn’t provide any hints about the way forward for the Aero, however Varjo instructed us earlier this 12 months that there’s a superb likelihood of an eventual follow-up to the headset.