Virtual Reality Startup Varjo Secures $31m in Funding

There are a lot of conflicting opinions on the future of virtual reality. Despite the odds, one startup successfully secured millions in funding. Finland’s Varjo raised $31m in funding from various European VCs and corporate venture arms. A clear sign the VR industry is far from dead despite the ongoing struggles.

Varjo has Big Plans for the Future

The virtual reality industry can only grow and evolve when new services and products come to market. In the case of Varjo, it seems launching new products should not take all that long. The Finnish startup recently raised $31m in funding to continue paving the way for broader VR adoption.

The company is currently in the process of developing high-end VR headsets. Product designers are their main target group, as they would be able to design real-world products within a VR studio. For testing purposes and customization purposes, a virtual representation which can be modified on the fly would be a welcome addition.

The headsets will combine industrial-grade VR and mixed reality. Designers could use this technology to work in fields required precision and visual fidelity. Consumer-grade virtual reality headsets cannot be used for this specific purpose, as they simply lack the necessary “punch” for this specific purpose. Varjo is currently testing its hardware and software with Airbus, Audi, Sabb, and other major industry players.

The prototypes currently in circulation offer 20 times the visual resolution of consumer VR devices. That is quite a significant increase over consumer-grade models, although  Varjo seems confident further improvements can be achieved in this regard. Bridging the gap between VR clarity and what the human eye can see will remain an ongoing struggle first and foremost.

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By JP Buntinx

JP Buntinx is a FinTech, VR, and Bitcoin enthusiast living in Belgium.