A Series B round of funding, totaling $ 30 million, will enable Helsinki-based startup Varjo to launch its industrial-grade augmented and virtual reality headset capable of "human-eye resolution" before the end of the year.
The investment team is looking forward to expanding its hardware and software teams from 80 employees to more than 200 within the next year and the global launch of the VR headset later in the fourth quarter of 2018 with AR add-on arriving in the first half of 2019.
Next47, the venture arm of Siemens and existing investors EQT Ventures and Lifeline Ventures.
"We hope that the hardware and software platform on industry will be as well as the introduction of the Graphical User Interface." At Varjo we are extremely proud to welcome Atomico , Europe's most experienced VC, and industry icon "said Urho Konttori, co-founder and CEO of Varjo, in a statement.
The company boasts a resolution of 50 megapixels per eye, compared to 2.3 megapixels per eye with HTC's Vive Pro, in its current prototype. Varjo's Bionic Display technology
"The resolution of VR devices on the market today is a fraction of what the average human eye can see." It's because of Varjo's world-class team that's looking for automotive, engineering, aerospace, architecture, construction, industrial design and real -world training simulations do not want to wait that long for the technology for their business-critical use cases, "said Niklas Zennstrom, Atomico Founding Partner and CEO.
The headset's performance makes it ideal for architecture, automotive, aerospace, and other industries with design disciplines. The company already counts aerospace companies Airbus and Lilum, automakers Audi, Saab, Volkswagen and Volvo Cars and construction firm Sellen Construction among their initial customers.
"Supporting virtual development means Jan Pflueger, co-ordinator at Center Of Competence for., says, "Varjo's technology is convincing and wants to help us to understand the benefits of a continuous virtual process." Augmented and Virtual Reality for Audi.
Augmented reality wearable makers have in-roads with enterprise primarily through productivity apps that guide employees through complex workflows or enable colleagues to collaborate and communicate remotely. The design use cases that Varjo is pursuing, where visualization of buildings, automobiles, and other products can improve design processes, but more precision and fidelity are required, is the next frontier of the augmented reality industry. Do not Miss: NR30: The Augmented Reality Investment Leaders of 2018