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Varjo Technologies secures US$31M in series B funding round

Helsinki-based Varjo Technologies, a virtual and augmented reality headset maker, raised US$31 million in a series B financing round led by European venture capitalist Atomico.

Existing investors EQT Ventures and Lifeline Ventures Oy also participated, alongside newcomer and Siemens-backed venture firm next47 GmbH. The latest round brings the technology startup's total capital to US$46 million.

The investment will support the global launch of what Varjo said would be the first human-eye resolution virtual and mixed reality product in the world. The industrial-grade product will cater to the simulation and training, architecture, automotive, aerospace, manufacturing, engineering and construction and industrial design sectors.

The startup said it expects the headset to be released during the fourth quarter, with product add-ons to be available in the first half of 2019.