Innoactive, a Munich, Germany-based provider of VR/AR software, secured €4.4m in funding.
The round was led by Unternehmertum Venture Capital Partners with participation from Capnamic Ventures.
The company intends to use the funds to expand technology/product development and the sales team.
Led by Daniel Seidl, founder and CEO, Innoactive develops virtual and augmented reality enterprise software for players in the automotive, aerospace, pharmaceutical and retail industries to simplify the creation and use of collaborative VR/AR planning, simulation and training applications. The platform enables central content management and provides a central entry point for all employees to meet virtually together and improve their workstations, regardless of where they are located.
Customers include Volkswagen, MediaMarktSaturn, Carl Zeiss, Deutsche Bahn, Audi and Continental, among others.