Participated · Seed · Nov 2019

Glue Collaboration provides a cloud-based virtual collaboration platform that brings participants together in a three-dimensional virtual space optimized for collaborative work. The platform facilitates virtual meetings between people around the world. Founded in 2017 by Santtu Parikka (CDO) and Juha Ruistola (CTO) and led by CEO Jussi Havu, the company is based in Helsinki, Finland. It has a 30-strong team of software engineers, designers and business developers. In November 2019 Glue completed a €3.5m seed financing to fund continued expansion of operations and its business reach. Investors and supporters include Maki.vc, Reaktor Innovations, Bragiel Brothers, Foobar Technologies, Business Finland and OP Bank.

Participated · Series A · Sep 2017

Varjo develops military-grade virtual and mixed reality hardware and software used to replicate real-world scenarios for training across land, sea, and air. Its product lineup includes the XR-4 Series and the government-compliant XR-4 Secure Edition, and its solutions are compatible with professional 3D software, image generators, and advanced simulator hardware. The company says its technology is adopted by more than 25% of Fortune 100 companies to enhance operational processes. Varjo emphasizes immersion, performance, and security for industrial and defence customers and aims to modernize training methods to improve speed, effectiveness, and cost-efficiency. The recent investment from THEON is intended to strengthen Varjo’s capabilities to deliver military-grade realism through next-generation immersive technologies. A strategic partnership with THEON will support multiple product and commercial initiatives aligned with expanding mission-critical training and simulation impact. Varjo produces premium XR headsets (XR-3, VR-3 and Aero) and integrated software, including the Varjo Reality Cloud streaming platform, aimed at industrial and enterprise applications. The company sells hardware priced roughly $6,500 to $1,500 and offers software subscriptions that appear to start around $1,500 annually. Its customers include Volvo, Lockheed Martin, Boeing, Aston Martin, Kia and about 25% of the Fortune 100, plus various U.S. and European government departments, with focus verticals in design and manufacturing, engineering, education and healthcare. Varjo also develops next-generation offerings (Teleport is in alpha) and holds 69 XR-related patents. Headquartered in Helsinki and founded in 2016 by veterans from Nokia, the company emphasizes independence and capital-efficient operations. Varjo plans to use recent funding to continue headset R&D and to expand software applications and tools for its Reality Cloud. Varjo develops high-end virtual and mixed reality headsets that offer photorealistic, "human-eye" resolution along with integrated eye tracking and broad software compatibility. Its devices are used by enterprise customers including Volvo Cars, Boeing, Audi and Siemens for applications such as astronaut and pilot training, automotive design and product development. The company sells multiple headsets and has a reseller network spanning over 40 countries across North America, Europe, the Middle East and Asia Pacific. Varjo recently expanded sales and direct shipping to key markets including Singapore, Israel, South Korea, Australia and New Zealand. Leadership changes include Timo Toikkanen being named CEO while co-founder Niko Eiden becomes CXO and remains a board member. Varjo also announced a commercial partnership with MeetinVR and plans to use new capital to accelerate global expansion and further develop hardware and software products. Varjo develops high-resolution VR and XR headsets that the company says achieve 'human-eye resolution,' claiming an effective resolution of 50 megapixels per eye and a roughly 20× bump over existing consumer headsets. The product is targeted at design-driven and industrial industries including simulation and training, architecture, automotive, aerospace, manufacturing, engineering, construction, and industrial design. Varjo says it is on track to commercially launch its VR headset later this year and plans an AR/XR add-on in the first half of 2019. The company has provided prototypes to and is iterating with partners such as Airbus, Audi, BMW, Volkswagen, and Lilium. Financially, Varjo has raised a total of $46 million to date, including the recent $31 million Series B. The company was founded in 2016 and is based in Helsinki. Varjo develops mixed-reality headsets and demonstrated its devices at Slush in Helsinki. The company announced it will start shipping Alpha prototypes by the end of 2017 and Beta prototypes in Q1 2018. A commercial launch is planned for sometime in 2018. Financially, Varjo announced a new $6.7M investment from Tekes, which follows an $8.2M Series A round in September. Varjo also disclosed partnerships with 20th Century Fox, Airbus, Audi, Technicolor, BMW and Volkswagen to provide feedback and aid product development. CEO Urho Konttori said the company is perfecting the technology and plans to launch a "profoundly revolutionary VR/XR headset" by the end of 2018.