Varjo, the Finnish startup that has actually developed a virtual and blended reality headset efficient in”human-eye resolution “for usage in numerous enterprise applications, has closed $54 million in Series C financing.
Backing the round is Tesi, NordicNinja and Swisscanto Invest by Zürcher Kantonalbank. Existing investors Lifeline Ventures, Atomico, EQT Ventures and Volvo Cars Tech Fund have likewise followed on. It brings the overall raised by Varjo to around $100 million to date.
The company is also revealing the visit of Timo Toikkanen, who was formerly president and COO of Varjo, as its new CEO. Co-founder and previous CEO Niko Eiden becomes CXO; he’ll be charged with continuing to drive the company’s innovation innovations and, notably, stays a board member.
Varjo says the injection of capital will be used to accelerate its international expansion and development of industry-leading software and hardware items. Global enterprise customers utilizing the company’s different headsets consist of Volvo Cars, Boeing, Audi and Siemens. Applications span immersive astronaut and pilot training, designing “cars of the future” and simplifying item development.
“We are seeing tremendous need for virtual and mixed truth use cases, especially as much of the world continues to work remotely,” states Toikkanen in a statement. “When you combine the photorealistic resolution and precise, integrated eye tracking discovered in our gadgets with the broad software compatibility we provide, the possibilities for developing, training and running research in immersive environments are unlimited. With support from our growing group of investors, we eagerly anticipate scaling our operations and providing the innovative technology our customers require to change the way they work.”
The Series C round follows a number of cited milestones, such as growth of the business’s international operations and reseller network to over 40 nations in The United States and Canada, Europe, the Middle East and Asia Pacific. This consists of the launch of sales and direct shipping to “crucial markets,” including Singapore, Israel, South Korea, Australia and New Zealand.
Varjo has likewise signed an industrial collaboration with MeetinVR to deliver photorealistic virtual partnership, a much-needed option for users to be able to collaborate from another location. Can we say the brand-new normal?(sorry, ed. )Post upgraded with appropriate funding figure based on
U.S. dollar exchange rate. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.