With virtual reality (VR) and augmented reality (AR) becoming ever more popular in business-level applications, a number of firms have moved into this area. One of them is Innoactive, who have recently secured a €4.4 million (EUR) funding round.
Innoactive is focussed towards providing AR and VR software solutions to various industries such as automotive, aerospace, pharmaceutical and retail. Its software platform, Innoactive Hub has been employed by Volkswagen to help in training over 10,000 personnel.
The €4.4 million investment was led by Unternehmertum Venture Capital Partners (UVC Partners), along with Capnamic Ventures. Innoactive has worked with many well-known firms and brands, such as MediaMarktSaturn, Carl Zeiss, Deutsche Bahn, Audi and Continental.
The company has concentrated its focus on certain key content areas for its SDK, including logistics, simulations and training, and has tapped into the recent popularity of social VR to create a collaborative VR social space for long-distance training and collaboration.
Innoactive created the Innoactive SDK to allow businesses to adapt the software to suit its particular style and create VR training programs without needing to spend time and money on writing code.
“Particularly in the areas of production and logistics, the great savings potential offered by virtual reality leads to enormous demand for VR training content. With our Innoactive Hub platform we offer an exciting solution with low entry barriers to create training content faster, use it more efficiently and roll it out company wide,” explains Daniel Seidl, founder and CEO of Innoactive.
The company says the investment will be used for: “Technology and product development as well as for expanding international sales and enlarging the development team. On the product side, the Innoactive SDK will be equipped with additional functions that enable customers and partners to create VR training applications quickly and easily.”
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