Total amount raised
$139.9 Millions
Latest funding date
09/01/2022
Location
Title
Varjo has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company specializes in advanced virtual and mixed reality headsets designed for professional use.
Keep reading to explore the intricacies of Varjo's fundraising journey and the investors backing this innovative platform.
What Is Varjo?
Varjo, founded in Helsinki, Finland, specializes in creating high-immersion virtual and mixed reality headsets for professional use. The company was established by a team of experts in the field, although their names are not explicitly mentioned on their website.
Varjo's products are utilized in various professional fields, including training astronauts, pilots, and nuclear power plant operators, as well as in car design and pioneering research. Their headsets, such as the XR-4 series, offer photorealistic visual fidelity and a wide field of view.
With headquarters in Helsinki and additional offices in Arlington, VA, and Munich, Germany, Varjo continues to expand its reach. The exact number of employees is not specified, but the company is known for its innovative contributions to VR and XR technologies.
How Much Funding Has Varjo Raised?
- Series D Round
- Amount Raised: $40 million
- Date: September 6, 2022
- Lead Investors: EQT Ventures, Atomico, Volvo Car Tech Fund, Lifeline Ventures, Tesi, Mirabaud, Foxconn
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue R&D for its headsets and to delve further into software applications and tools for the Varjo Reality Cloud.
- Series C Round
- Amount Raised: $54 million
- Date: August 12, 2020
- Lead Investors: Tesi, NordicNinja, Swisscanto Invest by Zürcher Kantonalbank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate global expansion and development of industry-leading hardware and software products, and to meet the growing demand for enterprise virtual and mixed reality solutions.
Total Amount Raised: $94 million. Current Valuation: Not publicly disclosed.
Key Investors
- EQT Ventures
- Details: EQT Ventures is a European venture capital firm that invests in technology-driven companies. They aim to support ambitious founders in building global success stories.
- Investment Focus Areas: Technology, software, digital health
- Notable Investments: Wolt, Small Giant Games, Handshake
- Atomico
- Details: Atomico is a venture capital firm founded by Skype co-founder Niklas Zennström. They focus on disruptive technology companies with the potential to scale globally.
- Investment Focus Areas: Technology, fintech, mobility
- Notable Investments: Klarna, Supercell, Lilium
- Volvo Car Tech Fund
- Details: The Volvo Car Tech Fund is the venture capital arm of Volvo Cars. They invest in technology and mobility startups that align with Volvo's strategic interests.
- Investment Focus Areas: Mobility, automotive technology, sustainability
- Notable Investments: Luminar, FreeWire Technologies
- Lifeline Ventures
- Details: Lifeline Ventures is a Finnish venture capital firm that invests in early-stage technology companies. They are known for their hands-on approach and deep industry expertise.
- Investment Focus Areas: Technology, healthcare, gaming
- Notable Investments: Supercell, Smartly.io, Wolt
- Tesi
- Details: Tesi is the Finnish government’s venture capital and private equity fund. They aim to promote Finnish innovation and support the growth of Finnish companies.
- Investment Focus Areas: Technology, healthcare, industrials
- Notable Investments: Not publicly disclosed
What's Next for Varjo?
Varjo stands at the cusp of significant growth opportunities, driven by the expanding enterprise XR market. With a strong foothold in sectors like design, manufacturing, and healthcare, the company is poised to leverage its advanced headsets and the Varjo Reality Cloud to meet the increasing demand for high-fidelity virtual collaboration tools.
Future fundraising appears promising, given the robust investor interest and the company's strategic partnerships. As Varjo continues to innovate and expand globally, additional funding rounds could further accelerate its growth trajectory. However, challenges such as intense competition and maintaining product quality while scaling operations remain critical hurdles to navigate.
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