With virtual reality (VR) technology now just months away from hitting the consumer market, investment in VR businesses is growing. One company to recently enjoy a new round of seed funding is Envelop VR. The Bellevue, Washington-based team has raised some $2 million USD from a group of investors to help work on its enterprise and productivity software, which includes an application that will allow others to create VR projects from within VR itself. The funding will also allow the company to take on more staff.
Envelop VR’s new investors include Hank Vigil and Fritz Lanman (Acequia Capital), Rudy Gadre, Shana Fisher (High Line Venture Partners), Howard Morgan, Geoff Entress, and Sujal Patel, among others. Their money will help the company develop software that enables other content developers to create VR experiences from within VR itself, a concept that it labels ‘VRinVR’. The obvious benefit of this is removing the need to switch between a head-mounted display (HMD) and a 2D screen when creating VR apps and videogames.
“We’re thrilled to be partnering with such an incredible group of investors who bring deep expertise in technology and strategic partnerships, and have been at the forefront of early adoption in their respective sectors,” co-founder and CEO of Envelop VR Bob Berry said of the news.
“Virtual reality, the technology that’s been 10 years away for 40 years, is finally here,” he continued. “Our vision at Envelop is to realize VR’s full potential and use it to enrich our lives and the world around us.”
It’s not yet clear when Envelop VR might reveal its ‘VRinVR’ concept, detailing information such as compatibility with certain HMDs. VRFocus will continue to follow the company closely, reporting back with any further updates from it.