Augmented Reality (AR) and Virtual Reality (VR) are transformative technologies gaining significant traction in the enterprise sector. In the world of AR, businesses are integrating digital information into the real-world environment, enhancing employee productivity and efficiency. From hands-free navigation in manufacturing settings to immersive training experiences, AR is reshaping how tasks are performed.
Now, Austrian startup Hololight a software maker focused on AR and VR enterprise solutions has secured a further $12 million in funding led by European growth equity investor Flatz Hoffmann. The round saw participation from existing investors EnBW New Ventures, Bayern Kapital, and Future Energy Ventures. With this, the total investment raised by the company accounts for $27 million.
Hololight Hub, industrial XR streaming
The investment will be to accelerate the development of its XR streaming platform, Hololight Hub. Founded in 2015 by Florian Haspinger, Alexander Werlberger, Susanne Haspinger, and Luis Bollinger, it is an XR streaming platform that helps companies build future-proof XR infrastructure and promote new forms of collaboration and digital workflows in 3D. The company will also accelerate the onboarding of customers across its key verticals automotive, aerospace, mechanical engineering and many more.
Also, the company announced that the funds will be used for its global expansion, helping to fast-track further US growth after the opening of the company’s new US office in 2022. This adds to the Triangle technology hub in Durham, North Carolina.
Hololight has a client base including BMW, in addition, the company currently serves over 150 customers, including major accounts such as Nokia, and Engie and several global aerospace and defense clients. It is also a trusted partner to key industry players such as Amazon Web Services, Qualcomm, Nvidia, and Verizon, amongst others.
“As the pioneers of enterprise XR streaming, it is our vision to stream any XR app on Hololight Hub to help enterprises break down the barriers to capitalising on immersive technologies. XR streaming is helping these companies to achieve improved data security, infrastructure flexibility, high-fidelity XR experiences, and global availability across their XR initiatives – all in a highly cost effective way.”
Christopher Hoffmann, Partner at Flatz Hoffmann, emphasised: “Our strategy is to invest in emerging European champions with ambitions for technology leadership and resource efficiency. Hololight fits the bill perfectly, competing successfully in the global XR market and shaping the industry with Hololight Hub. We are also highly impressed by Hololight’s inclusive culture and strategic resilience in building a leader in spatial computing. Flatz Hoffmann looks forward to supporting the team as it scales from venture to growth.”
Marc Umber, Head of Investment Team at EnBW New Ventures, added: “We believe that this strong team and its groundbreaking technology have already begun to change the way we work in the future when it comes to industrial design, construction, engineering, services and quality assurance. The team has created something truly spectacular for industrial use cases. With the increasing penetration of next-generation mobile networks, XR streaming will also change the way we interact with our environment in our daily lives. Hololight has grown remarkably over the past few years, which is a testament to the trust and credibility they’ve built with their customers and partners, and we share that confidence without reservation.”
