Helsinki-based Varjo Technologies, a architect of accouterments and software for VR/AR/XR accretion devices, has aloft $31 actor in Series B funding. Atomico led the round.
October 8, 2018 – Helsinki – Varjo™ (“shadow” in Finnish, arresting “Var-yo”) Technologies today appear a $31m Series B investment, led by Atomico™, to accompany to bazaar the world’s aboriginal human-eye resolution VR / XR (virtual absoluteness and alloyed reality) product. It will additionally be the world’s aboriginal VR / XR accouterments and software artefact accurately aimed at automated use, with the ability to transform assignment in circuitous and design-driven industries including simulation and training, architecture, automotive, aerospace, manufacturing, engineering and construction, and automated design.
This latest advance brings absolute funds aloft to date by the Helsinki-based startup to $46m. Next47™, the Siemens®-backed all-around adventure firm, is a new broker aing the round. Series A investors the EQT™ Ventures armamentarium (“EQT Ventures”) and Lifeline™ Ventures additionally participated.
The Series B advance will be acclimated to calibration Varjo’s 80-strong accouterments and software teams to added than 200 over the aing 12 months, and to accounts the all-around barrage and go-to-market of Varjo’s aboriginal product.
The artefact will be an industrial-grade VR / XR angle that allows professionals, in sectors from aerospace to architecture, to assignment in animal eye-resolution basic or alloyed absoluteness back designing new products. The angle can be chip with the world’s best accepted 3D engines and software tools. Unlike accessories such as Magic Leap™, HoloLens™, and HTC®Vive Pro, Varjo’s artefact can be acclimated in fields area acute attention and beheld allegiance are paramount.
“We achievement that the appulse of our accouterments and software belvedere on industry will be as abstruse as the addition of the Graphical User Interface,” said Varjo co-founder and CEO, Urho Konttori. “At Varjo we’re acutely appreciative to acceptable Atomico, Europe’s best accomplished VC, and industry figure Siemens, to our mission of ablution a new era of immersive accretion for professionals.”
Varjo is already accommodating with arch firms such as Airbus®, Audi®, Lilium®, Saab®, Sellen®, Volkswagen® and Volvo® Cars to optimize the angle for their corresponding business sectors and needs.
“The resolution of VR accessories on the bazaar today is a atom of what the boilerplate animal eye can see,” said Atomico Founding Accomplice and CEO, Niklas Zennström. “Until we met Varjo’s abstracted founders and accomplished their above artefact firsthand, we anticipation that VR was still at atomic 10 years abroad from actuality absolutely advantageous for professionals. It’s because of Varjo’s apple chic aggregation that industries such as automotive, engineering, aerospace, architecture, construction, automated architectonics and real-world training simulations won’t accept to delay that continued to be able to advance the technology for their business-critical use cases.”
“Decisions are the circadian claiming in a artefact development process. Supporting basic development agency to bear the accomplished accessible affection to accredit reliable decisions. Varjo’s technology is acceptable and will advice us to aing the absolute gaps and acceleration up our development cycles application the advantages of a connected basic process,” said Jan Pflueger, Coordination Augmented and Basic Absoluteness Center Of Competence at Audi.
Varjo will barrage its VR angle in backward Q4, 2018, with an AR/XR add-on to the angle accessible in the aboriginal bisected of 2019. The accepted accessible ancestor has an able resolution of 50 megapixels per eye, over twenty times that of customer devices.
About Varjo:Founded in 2016, Helsinki-based Varjo Technologies Oy is developing the world’s accomplished analogue industrial-use VR / XR accouterments and software to seamlessly absorb the absolute and agenda worlds calm in animal eye-resolution. The aggregation is currently optimizing their artefact for use in a ambit of industries in affiliation with arch all-around firms including Airbus®, Audi®, Lilium®, Saab®, Sellen®, Volkswagen® and Volvo®. Varjo’s aggregation includes optical scientists, creatives and developers who aforetime active top positions at Microsoft®, Nokia®, Intel®, and Nvidia®.
About Atomico:Atomico invests in confusing technology companies with ambitious, game-changing founders from Series A onwards. Built by founders for founders, Atomico has fabricated over 100 investments into companies including Supercell, Klarna, Stripe, ofo, Lilium, Graphcore, 6Wunderkinder and The Climate Corporation back its foundation in 2006.
Our accomplished aggregation includes founders and operators from the world’s best acknowledged technology firms who were amenable for all-around expansion, hiring, user advance and business at companies from Skype and Google to Uber, Facebook and Spotify. They accomplice with our companies as they calibration to become all-around winners and change the apple for the better.
About Next47:Next47 is a all-around adventure aing created by Siemens that invests in, and ally with, entrepreneurs who anticipate big and body industry-defining companies. With offices in Boston, Beijing, London, Munich, Palo Alto, Paris and Stockholm, Next47 gives start-ups unparalleled admission to one of the world’s better portfolios of barter in the areas of industry, activity and basement as able-bodied as area ability in the abysmal technologies that appulse those customers.
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