.The enterprise XR firm has wrapped up a crucial Series D fundraiser to develop Industry 4.0
Varjo completed a Series D funding round that secured the mixed reality (MR) technology firm with $40 million to establish an “industrial Metaverse” service.
The funding round was led by QT Ventures, Atomico, Volvo Car Tech Fund, Lifeline Ventures, Mirabaud and Foxconn.
The CEO of Varjo, Timo Toikkanen, added that Varjo’s Series D funding highlighted the Finnish firm’s growth over the “past few years” which runs parallel to the emerging interest in enterprise and Industry 4.0 extended reality (XR) solutions. Varjo is using its secured capital to boost its XR research and development (R&D) services, namely Reality Cloud. The Finish firm recently announced the platform in April, and the service enables rapid streaming of XR content for industry 4.0-ready firms. The $40 million funding also enables the firm to scale its industry solutions across various verticals, including design, manufacturing, engineering, education, and healthcare. Additionally, the firm is building an industry 4.0 Metaverse solution based on its XR technology portfolio. Timo also said that his firm’s “vision for a true-to-life metaverse for professionals is already here.” Full story here