
Varjo Secures USD 54 Million in Series C Round of Financing
Varjo’s most recent devices include the VR-2 and VR-2 Pro, priced at USD 5900 and USD 7000 respectively. Both the devices support VR content hosted on SteamVR, as well as Valve’s OpenVR development platform.
By
CIO Applications Europe | Wednesday, August 19, 2020

Varjo’s most recent devices include the VR-2 and VR-2 Pro, priced at USD 5900 and USD 7000 respectively. Both the devices support VR content hosted on SteamVR, as well as Valve’s OpenVR development platform.
FREMONT, CA: Finland-based developer of virtual and mixed reality headset capable of human eye resolution, Varjo, secured USD 54 million in a Series C funding round with participation from new investors. Tesi, NordicNinja, and Swisscanto Invest by Zürcher Kantonalbank. The investment round also saw follow-on investment participation from existing investors including Lifeline Ventures, Atomico, EQT Ventures and Volvo Cars Tech Fund. Varjo also announced the appointment of Timo Toikkanen as CEO, having previously served as president and chief operating officer. Niko Eiden will step into the chief experience officer role after nearly two years as CEO.
Varjo’s most recent devices include the VR-2 and VR-2 Pro, priced at USD 5900 and USD 7000 respectively. Both the devices support VR content hosted on SteamVR, as well as Valve’s OpenVR development platform. The company also sells the XR-1 developer edition at USD 13000, a mixed reality headset aimed at design and research professionals which enables digital objects to merge with the real world in the user’s field of view. The device can easily switch between real and virtual environments, going from reality to mixed reality to full virtual reality.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
“Both the VR-2 and VR-2 Pro are designed for professional use cases only, and they are used by software engineers, simulation professionals, industrial designers, and researchers,” said Toikkanen. “XR-1 is usually chosen by companies who want to integrate their physical controllers or cockpits with virtual training environments, or do design reviews of virtual cars in real environments.”
Varjo will use the funds from the latest investment round to accelerate its global expansion and development of hardware and software products. The company delivers human-eye resolution virtual and mixed reality devices to meet the most demanding enterprise applications across training and simulation, design and engineering and research. Global enterprises including Volvo Cars, Boeing, Audi and Siemens use the company’s XR-1 Developer Edition, VR-2 and VR-2 Pro devices to conduct immersive astronaut and pilot training, design cars, streamline product development, and more.
More in News
Weekly Brief
I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info
Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from CIO Applications Europe
THANK YOU FOR SUBSCRIBING


