Varjo Technologies, a Helsinki, Finland-based creator of hardware and software for VR/AR/XR computing devices, raised $31m in Series B funding.
The round, which brought total funding raised to date to $46m, was led by Atomico, with participation from Next47 and EQT Ventures and Lifeline Ventures.
The company intends to use the funds to scale its 80-strong hardware and software teams to more than 200 over the next 12 months, and to finance the global launch and go-to-market of Varjo’s first product.
Founded in 2016 by CEO Urho Konttori, Varjo Technologies is finalizing its human-eye resolution VR / XR (virtual reality and mixed reality) product specifically aimed at industrial use, to transform work in complex and design-driven industries including simulation and training, architecture, automotive, aerospace, manufacturing, engineering and construction, and industrial design.
Its headset allows professionals, in sectors from aerospace to architecture, to work in human eye-resolution virtual or mixed reality when designing new products. The headset can be integrated with popular 3D engines and software tools.
The company, which is collaborating with firms such as Airbus®, Audi®, Lilium®, Saab®, Sellen®, Volkswagen® and Volvo® Cars to optimize the headset for their respective business sectors and needs, will launch it in late Q4, 2018, with an AR/XR add-on to the headset available in the first half of 2019. The current available prototype has an effective resolution of 50 megapixels per eye, over twenty times that of consumer devices.