Reportedly, VR technology in training and simulation have demonstrated that learners exhibit greater focus, accelerated skill acquisition, and heightened confidence when applying newly acquired skills to real-life scenarios post-training.
Based out of Munich, VR developer and immersive media company Hologate, has secured €8.3 million in a Series A funding round. The investment round was co-led by new investors Bolero Holdings and Vester Partners with a number of existing backers, including Cherry Ventures (that backed Anamcara and The Exploration Company).
As per Hologate, it will use the fresh funds to significantly boost its international market expansion in the European and North American markets. The money will also allow Hologate to hire more staff and develop new products.
Leif Petersen, CEO and founder of Hologate, said: “This investment is a huge milestone for our company, made possible through the support of our new investors, Bolero Holdings and Vester Partners, as well as our existing investors, Cherry Ventures. This investment will propel us towards ambitious goals in this era of spatial computing, play a vital role in our plans for strategic hiring, explore new markets, innovate with new products and ultimately supercharge our growth.”
Robert Zipp, head of Bolero Holdings, added: “We are excited to have co-led this funding round, showcasing our strong belief in the immense potential of extended reality technology. Its remarkable applications in both entertainment, training and simulation have captivated us from the moment we experienced it firsthand. We are excited to contribute to the growth of Hologate within this incredibly innovative sector, taking them to the next level.”
VR solutions for entertainment and enterprise use
Hologate was founded by Leif Arne Petersen and Robert-Maximilian Fankhaenel in 2017. It operates with the mission to create turnkey solutions that brings users the best immersive entertainment.
It is touted to be one of the world’s largest location-based VR networks, spanning across 42 countries and over 450 locations. Hologate has delighted over 18 million players with interactive, immersive experiences featuring some top-shelf IPs including Ghostbusters and Angry Birds. It is also used by a number of organisations, such as the German Army, as part of its training program.