Home Virtual Reality News Varjo Raises $54M Financing to Support Its Retina-Quality VR/AR Headsets for Enterprise

Varjo Raises $54M Financing to Support Its Retina-Quality VR/AR Headsets for Enterprise

-

Varjo, the Helsinki, Finland-based creators of high pixel density VR/AR headsets for enterprise, today announced it’s closed a $54 million Series C funding round. The company says it will use the funds to accelerate the global expansion and development of its XR hardware and software products.

Investors include Tesi, NordicNinja, Swisscanto Invest by Zürcher Kantonalbank, Lifeline Ventures, Atomico, EQT Ventures and Volvo Cars Tech Fund.

The Series C financing brings the company’s overall total funds to $100 million to date.

In addition to the latest funding round, the company’s COO, Timo Toikkanen, will be leading Varjo as CEO. Co-founder and previous CEO, Niko Eiden, will be continuing as CXO and as a board member.

“We are seeing tremendous demand for virtual and mixed reality use cases, particularly as much of the world continues to work remotely,” said Toikkanen. “When you combine the photorealistic resolution and accurate, integrated eye tracking found in our devices with the broad software compatibility we offer, the possibilities for creating, training and running research in immersive environments are endless. With support from our growing group of investors, we look forward to scaling our operations and delivering the cutting-edge technology our customers need to transform the way they work.”

Varjo is known for its enterprise-level “human-eye resolution” VR/AR headsets, including the XR-1 Developer Edition, VR-2 and VR-2 Pro. Companies such as Volvo Cars, Boeing, Audi, and Siemens use Varjo headsets for industrial applications including training and simulation, design and engineering, and research and development.

Since its founding in 2016, Varjo has expanded its global operations and reseller network to over 40 countries in North America, Europe, the Middle East, and Asia Pacific, with the launch of sales and direct shipping to markets such as Singapore, Israel, South Korea, Australia and New Zealand.

The post Varjo Raises $54M Financing to Support Its Retina-Quality VR/AR Headsets for Enterprise appeared first on Road to VR.

This post appeared first on this site

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Follow Us For The Latest VR News

5,183FansLike
5,937FollowersFollow
1,781FollowersFollow
3,117FollowersFollow

Latest Reviews

Facebook Lowers Price of Enterprise-focused Quest to $800

With the revelation of Quest 2, Facebook has quietly knocked down the entry price for its business-focused version of the headset. Facebook only just made...

Logitech G Announces New Line Of Audio Headsets For Oculus Quest 2

The Logitech G333 VR Gaming earphones and Logitech G Pro headset are certified Oculus ready. This week Facebook announced its highly-anticipated follow-up to the Oculus...

VR Roulette Episode 2 LIVE: Ski Doom, Cute Idols, And More!

Welcome to VR Roulette! This is our LIVE weekly game show on YouTube that’s streamed (usually) at 10AM PT on Wednesdays. We select a...

This post appeared first on this site

Subscribe to TheFutureofVR's NewsletterAnd get exclusive, pre-release augmented reality news and early-bird special offers to save YOU money on VR tech, games and other exciting VR products! We won't deluge you with spam, or sell your details. Ever.