HP joins The VR Fund to Invest in Emerging Tech
This is the first investment in VR/AR by HP Tech Ventures.
To support virtual reality’s (VR) continued development and secure its future masses of investment has been poured in and will need to continue. The Venture Reality Fund (The VR Fund), one of the more well known companies supporting VR, augmented reality (AR) and mixed reality (MR) startups, recently announcing that HP Tech Ventures, the new corporate venture arm of HP Inc. has joined as an investor.
As an active and experienced venture investor, The VR Fund will provide HP with early access to leading AR?VR?MR technologies that suit HP’s target market’s such as office, retail, healthcare, manufacturing and education. The VR Fund’s investment portfolio consists of early stage startups who are developing infrastructure, tools, platforms, content and apps, all of which will benefit from HP’s product portfolio, global footprint and proven go-to-market strategies.
There’s been no confirmation on how much HP Tech Ventures either plans to or has invested, but with VR revenue at $1.8 billion USD for 2016, and global revenue expected to hit $40 billion by 2020, now’s as good a time as any to get involved.
“HP has a rich history of delivering innovative technology and was an early believer in the vast potential for mixed reality to transform consumer and commercial markets,” said Marco DeMiroz, cofounder and general partner of The VR Fund, in a statement. “We are excited to have HP Tech Ventures as a key investor in our fund and look forward to working closely with their team to introduce new applications for corporate innovation and productivity, while enhancing the customer experience and product development.”
“AR/VR is one of the most transformative categories in today’s technology landscape, and The VR Fund is one of the leading players in this ecosystem,” said Andrew Bolwell, global head of HP Tech Ventures. “We are excited to be an investor and look forward to working closely with The VR Fund to bring amazing new immersive experiences to market.”
VRFocus will continue its coverage of The VR Fund, reporting back with the latest announcements.