The Venture Reality Fund (The VR Fund) is one of the most prominent venture capital firms working in the virtual reality (VR) an augmented reality (AR) industries. The company has recently released its report detailing the current state of the European VR industry with its EU Landscape Report.
The EU Landscape was created in partnership with WebVR and development agency LucidWeb, and used information gathered from meetings and conferences with VR-focussed companies and VR ambassadors and evangelists.
The significant highlights laid out in the report include the fact that the UK remains the largest contributor of companies to the VR landscape in Europe, with videogaming being the most competitive part of the European VR industry, though enterprise and business-to-business VR technologies are continuing to gain traction, with the number of companies involved in this activity creasing by 55% since last year. Overall, the number of companies featured as part of the European VR landscape has increased by 57% since 2016.
“The VR industry continues to expand in Europe and next to the U.K. and France, Sweden has caught up in terms of the number of high-performing startups across the industry,” said Leen Segers, co-founder and CEO at LucidWeb. “For sub-industries in VR, as with the first version of the EU VR landscape published in early February, the number of companies focusing on user input, 3D tools and enterprise applications are growing quickly. Additionally, young startups in these verticals have easy access to capital, while mature companies in these spaces are more likely to go public or become acquired by major companies like Facebook, Microsoft and Starbreeze.”
“We partnered with LucidWeb again for this landscape because of its invaluable insight into the European VR ecosystem and its strong database of VR startups,” said Tipatat Chennavasin, co-founder and general partner at The VR Fund. “This landscape shows the robust startup environment and we are excited about new innovations emerging from virtually every country in Europe.”
VRFocus will continue to provide news on developments with in the VR industry.