- General
- October 8, 2018
- 6 minutes read
Varjo gets $31 million Series B round to take its ‘Human-Eye Resolution’ VR/XR Product to the market
The Varjo Beta prototype image : Varjo Varjo Tehnologies, A startup based out of the Finnish capital of Helsinki has…
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| The Varjo Beta prototype
image : Varjo
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Varjo Tehnologies, A startup based out of the Finnish capital of Helsinki has raised $31 million in Series B funding led by Atomico with participation from new investor Next47 and returning backers EQT Ventures and Lifeline Ventures to bring what it terms a “human-eye resolution VR / XR (virtual reality and mixed reality)” product to the market.
This round brings the total raised Varjo to $46 million and will be geared at scaling its already 80-strong hardware and software teams to more than 200 over the next 12 months and financing global launch and go-to-market strategy of its first product.
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| Varjo’s Mixed Reality Add-on vision
image : Varjo
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Varjo’s headsets are aimed at industrial use across sectors such as automotive, aerospace, architecture, manufacturing, industrial design and construction and will cost between 5,000 and 10,000 euros which comes expensive.
Varjo is gearing its products towards industrial users and has already set collaborations with the likes of Audi, Volkswagen, Airbus, Volvo, Saab, Sellen and Lilium for optimization of its VR tech for their industries.
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| Comparison of details of the 3d model used in a Varjo example VR cockpit instrumentation scene
image : Varjo
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“Until we met Varjo’s visionary founders and experienced their superior product firsthand, we thought that VR was still at least 10 years away from being truly useful for professionals.” Atomico founding partner and CEO Niklas Zennström stated.
“It’s because of Varjo’s world class team that industries such as automotive, engineering, aerospace, architecture, construction, industrial design and real-world training simulations won’t have to wait that long to be able to utilize the technology for their business-critical use cases”.
Varjo aims to launch its VR headset late this year with an AR/XR add-on set to come in the first half of next year. As per its statement, The current available prototype possesses an an effective resolution of 50 megapixels per eye which counts higher than mainstream consumer devices.
