Virtual reality (VR) authoring, publishing and analysis company InstaVR has announced the successful close of a Series B funding round, which is designed to help the company continue its mission of creating enterprise-level VR applications.
The company received $5 million (USD) in additional capital, which will let InstaVR continue its work in developing its technology.
The funding round included new participants YJ Capital, ITOCHU Technology Ventures and Mizuho Capital Partners, who joined existing investors GREE Ventures, COLOPL NEXT and The Venture Reality Fund.
The company has created a technology platform which allows businesses to quickly and simply create and publish interactive 360-degree VR apps that are compatible will all currently available major VR headsets.
InstaVR have worked with a host of major firms, and the company says that since 2016 over 30,000 clients have used the InstaVR platform to launch VR content, including Toyota, Hilton, TUI Group, the US Navy and the UK Government.
Daniel H. Haga, Founder of InstaVR, said: “As VR has gained more widespread adoption, companies are seeing the value of utilizing the technology for creating impactful and memorable immersive experiences, such as new employee onboarding and ongoing training. This round of funding helps InstaVR accelerate our plans to empower major corporations and organizations to more fully realize the benefits of VR.”
Usage of the InstaVR authoring platform doesn’t require knowledge of coding, so businesses can use the technology to create immersive, interactive scenarios for applications such as employee training quickly and simply.
“The future of employee learning is immersive,” Haga continued, “Being able to quickly build and distribute VR training modules is a huge competitive advantage for our clients. We’ve worked with thousands of clients to understand how we can give them better tools to make VR effectively. We’re proud to continue leading the way in making VR accessible to all businesses.”
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