Tracxn - Virtual Reality Startup Landscape

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Virtual Reality - May 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
TAKE SHARPER DECISIONS
WITH TRACXN
✓ Analyst team Covering 250+ Sectors
✓ Proprietary Business Model tagging
✓ 6000+ On-demand Queries answered
✓ Sector Reports, Market Maps
✓ One-Click Connect with Founders
Join 500+ Investors & Corporates to get the
Tracxn Advantage

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on May 7, 2019.
Virtual Reality Feed Summary
4
Virtual Reality > Feed Summary
Immersive multimedia that digitally simulates presence in real or imagined worlds, and allows the user to interact with that
world. VR immerses the user into a computer-generated experience that artificially replaces the physical surroundings.
• Inclusions: Includes companies which manufacture display devices (head mounted
devices, smartphone-based headsets), studios making their own VR content, startups focusing
on live streaming of events (like sports, concerts) in virtual reality. Consists of companies
providing tools for creating VR content (like reality capture, VR modeling, end to end
solutions, processing, developer tools). Contains platforms for delivery of VR content like
videos, experiences, apps as well as platforms enabling distribution of VR content on various
VR publishing platforms. Tools enabling interaction in virtual reality through peripherals and
software through gesture detection, tracking are also included. Comprises of players applying
VR technology in various fields like Healthcare, Education, Real Estate, Retail, Entertainment,
Social, Tourism, etc. Also includes service companies which make custom VR applications.
• Exclusions: Excludes generic 3D and visualization tools. Generic software which can be
used to make VR content e.g. game engines like Unity are not covered here. Excludes Gaming
studios which are covered under VR Gaming feed. Does not include consulting firms for VR.
Excludes Augmented Reality specific device manufacturers and technology solutions
providers which are covered in Augmented Reality feed.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$4B
Funding
23
Mega
Companies
5992255
FundedCovered on
Tracxn
5
Unicorns
13
Soonicorns
16
Minicorns
16
IPO’d Cos
137
Late Stage Cos
30
50
Acquisitions
227
DeadPooled
2
Acquihired
Series A+ Cos
Matterport
(2011, Mountain View, $114M)
Improbable
(2012, London, $763M)
Oculus VR
(2012, Irvine, $91M)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Virtual Reality
5
$658M - Series C
Improbable (2012, London, $763M)
$48M - Series D
Matterport (2011, Mountain View, $114M)
$200M - Series D
Orbbec (2013, Seattle, $200M)
$40M - Series B
Within (2014, Los Angeles, $56.6M)
$55M - Series D
Mantis Vision (2005, Petah Tikva, $83M)
$35M - Series D
High Fidelity (2013, San Francisco, $85M)
$50M - Series C
$31M - Series B
Varjo Technologies (2016, Helsinki, $46M)
$50M - Series C
Leap Motion (2010, San Francisco, $94.1M)
$30M - Series B
Fyusion (2013, San Francisco, $68.4M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Virtual Reality > Feed Summary > Investment Trend Summary
Seed Rothenberg Ventures (#24), Presence Capital (#9), Colopl Next
(#8)
Series A/B Venture Reality Fund (#7), Intel Capital (#7), Presence Capital (#6)
Series C+
China Media Capital (#2), IDG Capital (#1), Qualcomm Ventures
(#1)
Incubators Boost VC (#41), Techstars (#16), Plug and Play Tech Center (#16)
Other Notable
Investors
startup orange (#8), Vive (#5), HTC Corporation (#5)
Debt Investors Western Technology Investment (#5), TPG (#2), NXT Ventures
(#2)
Most Active InvestorsRecent Investments
338
546 561
223
47
11
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 60 129 139 143 97 21
$2.5B
$1.1B
$197M
$71.4M
$38.5M
US
Europe
Israel
India
Canada
$ Funding
$132M
$197M
$568M
$633M
$1.2B
$669M
$316M
50
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

Summary of exit outlook in Virtual Reality
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Andreessen
Horowitz
2
Oculus VR (2012, Irvine, $91M)
Cervin Ventures 1 Replay Technologies (2011, Tel Aviv, $27M)
Suir Valley Ventures 1 VR Education Holdings (2014, Waterford)
Sure Ventures 1 Immotion (2017, Manchester, $699k)
Venture Kick 1 MindMaze (2012, Lausanne, $119M)
Feb 2019 PanaCast Acq by GN Group for $125M
Dec 2016 InvenSense Acq by TDK for $1.3B
Nov 2016 NaturalPoint Acq by Planar Systems for $125M
Mar 2016 Replay Technologies Acq by Intel for $175M
Dec 2015 Immersive Media Acq by Digital Domain for $72M
Oct 2015 Vuforia Acq by PTC for $65M
Mar 2014 Oculus VR Acq by Facebook for $2B
Virtual Reality > Feed Summary > Exit Outlook Summary
Oculus VR 5
Pebbles Interfaces (Jul 2015, $60M), Surreal Vision (May
2015), Nimble VR (Dec 2014)
Google 4
Lytro (Mar 2018, $40M), Thrive Audio (Apr 2015), Skillman &
Hackett (Apr 2015)
Intel 3
Replay Technologies (Mar 2016, $175M), Voke (Nov 2016),
Movidius (Sep 2016)
Facebook 2 Oculus VR (Mar 2014, $2B), Two Big Ears (May 2016)
Starbreeze 2 ePawn (Jun 2016, $6.1M), Enterspace (Jul 2017, $2.2M)
Recent IPOs Top Acquisitions
EVR Holdings May 2016
Audiovisual and interactive content for u…
IPO MCap: $11.3M
Immersion Jan 2016
Developer of high-end interaction devices…
IPO MCap: -
InvenSense Nov 2011
MotionTracking sensor system on chips wit…
IPO MCap: $595M
YDX Innovation Jan 2009
Developer of VR solutions for enterprises…
IPO MCap: $1.7M
Immotion Jul 2018
Location based virtual reality simulators…
IPO MCap: $27.5M
VR Education Holdings Mar 2018
VR platform for showcasing training conte…
IPO MCap: $29M
Smaaash Entertainment Oct 2017
Virtual reality sports, leisure and enter…
IPO MCap: $65.5M
Crunchfish Nov 2016
Touchless gesture recognizing software fo…
IPO MCap: -

Overview
Companies 2255
Funded 599 Series A+ 137
Funding $4B Last 2 yrs $1.9B
Most Active Investors
Seed Rothenberg Ventures (24)
Series A/B Venture Reality Fund (7)
Series C+ China Media Capital (2)
Others startup orange (8)
Incubators Boost VC (41)
Top Cities
Bay Area 220 Cos $1.3B
London 100 Cos $790M
Feed in Numbers
Unicorns 5 Soonicorns 13
Minicorns 16 Editor Picks 158
Acquihired 2 Deadpooled 227
Top Companies
Exits
IPOs 16 InvenSense, Smaaash
Entertainment
Acquisitions 50 Oculus VR, InvenSense
Top Acquirers Oculus VR, Google
Marketmap: Virtual Reality
INTERACTIVITY ENABLERS
CONTENT
MOTION TRACKING &
SIMULATION*
CHIPS & SENSORS
DISPLAY DEVICES
MIXED REALITY HEADSETS
HEAD-MOUNTED DEVICES*
PC/CONSOLE/STANDALONE
APPLICATIONS
ENTERTAINMENT*
HEALTHCARE & FITNESS*
VIRTUAL WORLD*
REAL ESTATE & ARCHITECTURE*
RETAIL*
ENTERPRISE
ADVERTISING & MARKETING
EDUCATION & TRAINING
LIVE STREAMING
CONTENT CREATION TOOLS*
CONTENT DELIVERY
Virtual Reality > Feed Summary > BlueBox
7
* Upcoming Business Model
FACTSHEET
Funding data excludes Debt, Grants & Post-IPO rounds.
Excludes all details for Chinese companies.

Key Sub Sectors in Virtual Reality Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Studios
240 $62.2M 12
Applications > Social >
Virtual World 35 $78.4M 7
Applications > Healthcare & Fitness >
Medical Training 40 $35.1M 9
Delivery >
Video 56 $30.2M 8
Display Devices > Smartphone-based >
HMD 101 $47.3M 5
Applications > Entertainment >
VR Arcades 123 $39M 5
Applications > Healthcare & Fitness >
Patient Treatment 77 $13.7M 7
Content Creation Tools > Dev Tools >
Streaming 23 $32.2M 5
Applications > Social > Social Networking >
Professional Collaboration 30 $13.1M 7
Live Streaming
23 $26.9M 5
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Content Creation Tools
Companies providing tools to create VR content, such
as reality capture solutions, VR...
326 135 $1.7B
Applications
Companies applying VR technology in various fields
like healthcare, education, real estate,...
863 217 $903M
Interactivity Enablers
Companies developing tools which enable interactions
in virtual reality (for both input...
213 74 $326M
Studios
Studios making their own virtual reality content
including cinematic productions, animation...
240 41 $308M
Display Devices
Companies manufacturing display devices, such as
head-mounted devices, to view VR content
196 27 $213M
Live Streaming
Startups focusing on streaming of live events in virtual
reality like sports, music concerts,...
23 8 $199M
Chips & Sensors
Makers of chips & sensors for VR tracking and image
processing
7 6 $167M
Virtual Reality > Feed Summary > Summary of Key Markets

List of Notable Companies in Virtual Reality
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
Virtual Reality > Feed Summary > Notable Companies in the Sector
Public
Smaaash Entertainment
(2009, Mumbai, $68.1M)*
VR Education Holdings
(2014, Waterford)
Immotion
(2017, Manchester, $699k)
EVR Holdings
(2015, London, $5.3M)
YDX Innovation
(2007, Vancouver)
Crunchfish
(2010, Stockholm, $10.5M)
MelodyVR
(2015, London, $6.5M)
Kogeto
(2010, New York City, $1.9M)
Timefire
(2014, Phoenix, $1.7M)
Recall Studios
(2009, New York City)
Public
Barunson
(1985, Seongnam-si)
Freevi
(2011, Beverly)
Immersion
(1994, Bordeaux)
Immersion
(1993, San Jose)
Acquired
Oculus VR
(2012, Irvine, $91M)
InvenSense
(2003, San Jose, $38M)
Replay Technologies
(2011, Tel Aviv, $27M)
NaturalPoint
(1996, Corvallis)
PanaCast
(2011, Cupertino)
Unicorns
Improbable
(2012, London, $763M)
Orbbec
(2013, Seattle, $200M)
MindMaze
(2012, Lausanne, $119M)
Deadpooled
Vzillion (2005, Atlanta)

Tracxn - Virtual Reality Startup Landscape

List of Notable Companies by Market in Virtual Reality
Notable Companies by Market (1/7)
11
Virtual Reality > Feed Summary > Notable Companies by Market
Studios
Studios
JauntVR (2013, Palo Alto, $100M)
Producer and distributor of immersive VR, AR, and
MR content
Soonicorn. Stage: Series C
The Walt Disney Company, Evolution Capital
Partners, Madison Square Garden and 11 Other
Investors
Recall Studios (2009, New York City)
NY based studio developing AR/VR experiences
Editor's Pick. Stage: Public
Custom App Developers
Barunson (1985, Seongnam-si)
Provider of XR-based content development services
Stage: Public
Michigan Venture Capital
Live Streaming
Live Streaming
NextVR (2009, Laguna Beach, $116M)
Live and on demand VR streaming for Sports and
concerts
Soonicorn. Stage: Series B
NetEase, China Assets, Citic Guoan Information
Industry and 16 Other Investors

12
Reality Capture
Lytro (2006, Mountain View, $210M)
Light field camera technology for cinematic VR
Soonicorn. Stage: Acquired
Blue Pool Capital, EDBI, Foxconn Electronics and 14
Other Investors
Manufactures of structured light 3D camera
Unicorn. Stage: Series D
Ant Financial, SAIF Partners, Green Pine Capital
Pariners and 1 Other Investors
Develops solutions to view, scan, shoot or share 3D
content on mobile devices or handheld scanners
Soonicorn. Stage: Series D
Samsung Catalyst, Formation 8, Qualcomm
Ventures and 5 Other Investors
Reality Capture
8i (2014, Los Angeles, $41.5M)
Tools for volumetric video capture
Time Warner, Hearst, Verizon Ventures and 23
Other Investors
Kogeto (2010, New York City, $1.9M)
Panoramic Video Camera Manufacturer
Stage: Public
NaturalPoint (1996, Corvallis)
Head motion tracking devices
Stage: Acquired
PanaCast (2011, Cupertino)
Cameras systems and AI-based Intelligent Vision
software products
Stage: Acquired
End-to-end Solutions
MelodyVR (2015, London, $6.5M)
VR content production enabling VR music
experiences
Stage: Acquired

13
Dev Tools
Distributed simulation software for video games
and corporate sectors
Unicorn. Stage: Series C
NetEase, SoftBank Group, Horizons Ventures and
15 Other Investors
Replay Technologies (2011, Tel Aviv, $27M)
Offers free dimensional 3D video technology
Stage: Acquired
Deutsche Telekom Capital Partners, OurCrowd,
Samsung Venture Investment and 5 Other Investors
OTOY (2010, Sherman Oaks)
Cloud platform graphics software to create 3D
rendering
Soonicorn. Stage: Series E
HBO, DiscoveryComm
Delivery
Apps
EVR Holdings (2015, London, $5.3M)
Audiovisual and interactive content for use in
virtual reality devices
Stage: Public
Display Devices
Consoles and Standalone
Develops VR head mounted devices
Unicorn. Stage: Acquired
Andreessen Horowitz, Spark Capital, Matrix
Partners and 7 Other Investors
Freevi (2011, Beverly)
Creates multi-types of VR glasses and a glass-free
stereoscopic VR tablet
Stage: Public

14
Input
Making motion control software and hardware
JPMorgan, Founders Fund, Highland Capital
eyeSight (2005, Herzliya, $50M)
Gesture recognition technology provider
Jebsen Asset Management, Arie Capital, Mizrahi
Bank and 8 Other Investors
Eyefluence (2013, Milpitas, $21.6M)
Eye tracking & eye control technology for HMDs
Motorola Solutions, JAZZ Venture Partners, NHN
Investment and 3 Other Investors
Crunchfish (2010, Stockholm, $10.5M)
Touchless gesture recognizing software for
computer interaction
Stage: Public
Midroc
Output
Immotion (2017, Manchester, $699k)
Location based virtual reality simulators and CMS
to manage it
Sure Ventures
Immersion (1993, San Jose)
Haptics software provider for multiple industries
Stage: Public
Raging Capital, Spencer Waxman
Chips & Sensors
Tracking
InvenSense (2003, San Jose, $38M)
MotionTracking sensor system on chips with
integrated motion and sound solutions
Sierra Ventures, Qualcomm Ventures, Artiman

15
Chips & Sensors
Image Processing
Movidius (2005, San Mateo, $86.5M)
Low power processors for computer vision and
deep-learning
Summit Bridge Capital, ARCH Venture Partners,
Atlantic Bridge Capital and 10 Other Investors
Applications
Healthcare & Fitness
MindMaze (2012, Lausanne, $119M)
Virtual Reality for neuro-rehabilitation
Unicorn. Stage: Series A
Hinduja Group, Venture Kick, Blue Sea Ventures
and 1 Other Investors
Education & Training
VR Education Holdings (2014, Waterford)
VR platform for showcasing training content in an
immersive environment
Suir Valley Ventures

16
Applications
Real Estate & Architecture
Camera for creating 3D Models of interior spaces
Qualcomm Ventures, DCM Ventures, Lux Capital
Retail
Marxent (2011, Dayton, $16.1M)
AR & VR solutions for Visual Commerce
Stage 1 Ventures, Detroit Venture Partners, Beck
Besecker and 2 Other Investors
Immersion (1994, Bordeaux)
Developer of high-end interaction devices,
hardware and software components for industries
Stage: Public
Calao Finance
VR platform for connecting businesses with
consumers online and off
Stage: Deadpooled
Entertainment
Smaaash Entertainment (2009, Mumbai,
$68.1M)
Virtual reality sports, leisure and entertainment
Stage: Public
Ravi Modi, Lakshami Narayan, Vijaylaxmi Poddar
YDX Innovation (2007, Vancouver)
Developer of VR solutions for enterprises

17
Applications
Social
Open-source social virtual reality platform to
create, share and explore virtual worlds
Blockchain Capital, Breyer Capital, IDG Capital and
5 Other Investors
Timefire (2014, Phoenix, $1.7M)
Developing a virtual city
Stage: Public

Recent News in Virtual Reality Sector
Recent News
18
Virtual Reality > Feed Summary > Recent News
May 2019
Farmers teams up with VR company for training program,
insurancebusinessmag.com
May 2019 NOMOKO wins the 26th Prix Strategis, Startupticker
May 2019
Zappar Introduces ZapWorks Studio6, Augmented Reality Content
Creation Platform, MarTech Advisor
May 2019
Tridify BIM Tools to assist AEC professionals optimize data,
Geospatial Media and Communications
May 2019
Surgical Theater Brings a New Approach to Patient Engagement
Utilizing Augmented Reality with Magic Leap, PR Newswire
May 2019 Oculus Quest and Rift S to start shipping on May 21, GamesIndustry
May 2019
InstaVR Launches Single-Click Publishing to Oculus Quest and Rift S,
Including World-Class Touch Interactivity, PRWeb
May 2019
Pimax reveals Sword and Sword Sense VR controllers with
swappable batteries, VentureBeat
Apr 2019
Oculus Quest and Rift S ship May 21, pre-orders go live today,
TechCrunch
Apr 2019
Oculus announces a VR subscription service for enterprises,
TechCrunch
Apr 2019
AXA Hong Kong, CUHK and Oxford VR announce first-of-its-kind
mental health clinical research, cambridgenetwork.co.uk
Apr 2019
National Geographic brings VR adventures to Oculus,
researchsnipers.com
Apr 2019
Ballista is High Voltage Software’s first game for Oculus Quest,
VentureBeat
Key Recent News Key Recent News
Apr 2019
Sure Ventures invests in Cambridge-based holographic software
firm, Proactive Investors
Apr 2019
AI investment to bring Peaky Blinders virtual reality game to life,
thebusinessdesk.com
Apr 2019
Immersion Brings the Power of Touch to Konica Minolta’s Latest
Electronic Office Equipment, Business Wire
Apr 2019 Supersphere Launches Audiophile Series, avnetwork.com
Apr 2019
Immersion Signs Agreement With TDK Electronics Bringing Haptics
Design and Marketing to PowerHap Piezo Actuators, Business Wire
Apr 2019
Two Bit Circus Announces “Park as a Platform” Program for Game
Developers Looking to Enter Location-Based Entertainment,
Business Wire
Apr 2019
Facebook's New Campus for Oculus Gets $515 Million of Financing,
BloombergQuint
Apr 2019
Fundamental Surgery Becomes First VR Surgical Training
Simulation to Gain CPD Accreditation, HIT Consultant
Apr 2019
Oculus Explains Why It Doesn’t Think the Time is Right for ‘Rift 2’ or
‘Rift Pro’, Road to VR
Apr 2019
YDX Corporate Update - New Partnership for Arkave VR and
Mission Genesis by YDreams Receives Recognition by Fast
Company, The Newswire
Apr 2019 MyndVR improves its VR platform for the elderly, VentureBeat
Apr 2019
Groove Jones Builds Virtual Reality Fighting Game for UFC and
Modelo, SportTechie

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
19
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Medical Devices
Mar 2019
Database Technology
Mar 2019
InsurTech
Mar 2019

Investments ($M) and number of rounds in Virtual Reality; 2012-2019
Global Funding Trends (1/2)
21
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Virtual Reality > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 9% # of Rounds47% $ Funding
21% # of Rounds
6% $ Funding
$132M
$65M
$236M
$197M
$568M
$633M
$1.2B
$669M
$316M
0
20
40
60
80
100
120
140
160
$0k
$200M
$400M
$600M
$800M
$1.B
$1.2B
$1.4B
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

23 10 42 94 95 83 51 13
6
12
16
28
35
52
37
7
2 3 2 7 9
8
9 1
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
31
21
Total # of Rounds
$25M
$9M $55M $55M $71M $79M $55M $10M
$31M
$191M
$130M
$257M
$420M
$354M $194M
$73M
$9M $36M $12M $255M $142M $752M $420M $48M
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
$65M
$132M
Total $ Invested
22
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Virtual Reality; 2012-2019
Virtual Reality > Investment Trends > Global Funding Trends
24
37
80
83
76
54 10
364
$1.6M
$2.1M
$0.0M
$1.0M
$2.0M
$3.0M
$4.0M
$5.0M
$6.0M
0
50
100
150
200
250
300
350
400
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$1.6M $1.9M $1.9M $1.2M $1.7M $5M $1.6M $2.1M
$78M
$165M
$28M
$333M
$375M
$838M
$421M
$187M
5
0
2
4
6
8
10
12
0
100000000
200000000
300000000
400000000
500000000
600000000
700000000
800000000
900000000
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
- 4 1 8 10 6 6 2

Virtual Reality > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Virtual Reality
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 1.3B 195
London 790M 26
Seattle 294M 26
Los Angeles 233M 41
Lausanne 119M 4
Laguna Beach 116M 4
Irvine 91M 2
Petah Tikva 77.2M 3
Mumbai 68.1M 7
Pittsburgh 59.8M 3
Total Funding
298
149
20
23
21
25
7
3
# Rounds
$2.5B
$1.1B
$197M
$71.4M
$38.5M
$18.9M
$10.3M
$4.2M
US
Europe
Israel
India
Canada
Japan
Australia
Taiwan
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$1.3 $1.1
$1.7
$1.0
$1.4 $1.4 $1.5
2012 2013 2014 2015 2016 2017 2018
Virtual Reality > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Virtual Reality; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$10K* $14.1M
$99.4K $100M
$2M $80M
$992K $658M
$20M
$13M
$5.2M
$767K
Series C+
Series B
Series A
Seed
Stage
$2.0
$48.3
$18.1 $10.5
$27.6
$17.4 $10.7
$4.6 $18.0 $12.0
$36.5 $23.7
$125.3
$52.5
$5.9 $5.8 $6.4
$10.2 $10.5
$6.2 $5.6

Note: 367 companies with undisclosed funding amount are not included
25
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
100
126
51
12
7
No. of Companies
Virtual Reality > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Virtual Reality; as of May 2019
Distribution of companies by Funding Range
$29M
$413M
$1.1B
$857M
$1.6B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
27%
6%
2%
1%
26
Note: Numbers in the brackets show the count of companies
Time to raise
next round
30
49
137
599
2255
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
27% 2%
(35)
1%
(21)
0%
(2)
10%
(226)
63%
(1428)
23% 5%
(31)
3%
(17)
0%
(2)
4%
(21)
73%
(439)
36% 16%
(22)
5%
(7)
1%
(1)
2%
(3)
61%
(84)
61% 43%
(21)
14%
(7)
- - 39%
(19)
- 50%
(15)
17%
(5)
- - 50%
(15)
Virtual Reality > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Virtual Reality
Funding Funnel
13 Months
15 Months
26 Months
Investment backedBootstrapped
13
5
30
13
20
3
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Virtual Reality > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Virtual Reality; May 2017-May 2019
Notable Investments in last 24 months (1/4)
LATE STAGE
$658M - Series C May 2017
Distributed simulation software for video games and
corporate sectors
SoftBank Group, Horizons Ventures, Andreessen
Horowitz
$200M - Series D May 2018
Pariners, Fosun RZ Capital
$55M - Series D Jul 2018
Samsung Catalyst
$50M - Series C Jul 2018
Distributed simulation software for video games and
corporate sectors
NetEase
LATE STAGE
$50M - Series C Jul 2018
JPMorgan
$48M - Series D Mar 2019
$35M - Series D Jun 2018
Open-source social virtual reality platform to create,
share and explore virtual worlds
Blockchain Capital, Breyer Capital, IDG Capital,
Vulcan Capital
$15M - Series C Oct 2018
Bank
LATE STAGE
$5M - Series C Aug 2017
Ericsson
$2.6M - Series C Dec 2018
WakingApp (2013, Rosh Haayin, $7.9M)
Cloud platform for AR/VR content creation
Globis Capital Partners
Series C May 2018
State Auto Labs

EARLY STAGE
$40M - Series B Jul 2017
Within (2014, Los Angeles, $56.6M)
Develops cinematic VR content
Temasek, Macro Ventures, Andreessen Horowitz,
21st Century Fox, Raine Group
$31M - Series B Oct 2018
Head mounted display with resolution matching
human eye
Atomico, next47, EQT Ventures, Lifeline Ventures
$30M - Series B Apr 2019
Developer of 3D image processing technology for
consumer applications
Cox Automotive
EARLY STAGE
$30M - Series B Dec 2017
Dreamscape (2016, Santa Monica, $41.4M)
Location-based immersive virtual reality
entertainment
Bold Capital Partners, 21st Century Fox, Warner
Bros, AMC Theatres, Majid Al Futtaim, Image Nation
Abu Dhabi
$22M - Series B Dec 2017
New Enterprise Associates, Presence Capital, NTT
Docomo Ventures, COLOPL, Gionee
$16.8M - Series A Mar 2018
Vicarious Surgical (2014, Boston, $31.9M)
VR in surgical products
Khosla Ventures, Innovation Endeavors, Gate
Ventures, AME Cloud Ventures, Marc Benioff
EARLY STAGE
$16M - Series A Oct 2018
STRIVR (2015, Menlo Park, $21M)
Virtual reality-based immersive learning and
training application
GreatPoint Ventures
$13.2M - Series B Feb 2019
Dirac Research (2001, Uppsala, $18.1M)
3D audio rendering platform for VR as well as
platform-optimized sound enhancement solutions
Club Network Investments, Erik Ejerhed, Staffan
Persson
$10M - Series A Jan 2019
Marc Benioff, Gates Frontier, Khosla Ventures,
Innovation Endeavors, AME Cloud Ventures, Neil
Devani

EARLY STAGE
ObEN (2014, Pasadena, $23.7M)
Photo-real 3D virtual avatar using AI
Tencent, SB China Capital, Fengshang Capital,
Rushan Capital
$10M - Series A Jul 2018
Penrose (2015, San Francisco, $18.7M)
VR content development studio
TransLink Capital, Marc Benioff, KT, Co-made, Sway
Ventures, 8VC, Suffolk Equity Partners
LiveLike (2015, San Francisco, $23M)
VR Sports Broadcasting
Greycroft Partners, Lepe Partners, David Stern,
CourtsideVC, Elysian Park, Dentsu Ventures,
Evolution Media
$9.1M - Series A Jan 2019
AMAZE (2016, Los Altos, $9.1M)
Virtual reality social media platform to share VR
video experiences
EARLY STAGE
$8.3M - Series A Feb 2019
HaptX (2012, Seattle, $17.3M)
Wearable device for motion tracking
$7.7M - Series A Oct 2018
Arena Space (2016, Moscow, $7.7M)
Theme parks for virtual reality entertainment
Rucard
$7.5M - Series B Aug 2017
$5M - Series A Jun 2017
Tencent
EARLY STAGE
$1M - Series A Aug 2017
Realtime Immersion (2012, San Francisco,
$10.3M)
Develops 360-Degree Live Streaming Camera
Systems
Series A Jun 2017
National Football League

SEED STAGE
$2M - Seed Jun 2017
NetEase, Dawn Patrol Ventures

Virtual Reality > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$121M - Series C Dec 2017
Baofeng Mojing (2014, Beijing, $166M)
VR headset
Suzhou Dongshan Precision Manufacturing
$30M - Series C Mar 2019
Insta360 (2014, Shenzhen, $39M)
Spherical video camera which can be used to take
360° photos and videos
Suning Tesco Group, Xunlei, IDG Capital, Lang Ma
Feng the VC
Series C Jul 2018
Baofeng Mojing (2014, Beijing, $166M)
VR headset
IDG Capital
EARLY STAGE
Sandbox VR (2013, Hong Kong, $68M)
Location-based VR entertainment stations
Mike Maples, Stanford University, ChinaRock Capital
Management, Alibaba.com, Andreessen Horowitz,
TriplePoint Capital
$48M - Series B Mar 2018
3vjia (2012, Guangzhou, $48M)
3D virtual reality technology
Redstar Macalline
$37.9M - Series A Mar 2018
3Glasses (2012, Shenzhen)
PC-based virtual reality headset with 2K displays
Nikihou Web
EARLY STAGE
$31.7M - Series B Dec 2017
51HiTech (2014, Beijing, $31.7M)
DIY platform for VR content creation as well as
custom solutions for enterprises
SenseTime, Lightspeed China Partners, Green
Investment Industrial Chain Fund, Shenzhen Green
Pine Capital Partners, Silicon Valley Bank
$24.7M - Series A Jul 2018
Pico (2015, Beijing, $24.7M)
Standalone VR headset and software development
services provider
GF Securities, Guangfa Shunde Investment
Management
$16M - Series A Feb 2019
Nreal (2017, Beijing, $31M)
Developer of mixed reality glasses for consumers
iQIYI, Shunwei Capital, China Growth Capital

Most Active Investors (VC, PE) by Stage in Virtual Reality; Last 5 years (May 2014-May 2019)
Most Active VC & PE Investors
32
Virtual Reality > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Rothenberg Ventures (24 Investments)
TheWaveVR, SpectraVR, Solirax
1
Presence Capital(9 Investments)
Nomadic, Viro Media, Floreo
2
Colopl Next (8 Investments)
Vantage Point, SuperXYZInc, Floreo
3
Venture Reality Fund (8 Investments)
Vantage Point, SLIVER.tv, TheWaveVR
4
Anorak Ventures(5 Investments)
Vantage Point, SuperXYZInc, Osso VR
5
Right Side Capital Management(4
Investments)
Obsess, LIV, SVRF
6
HTGF (3 Investments)
R3DT, ImmerSight, ImmerSight
7
Lux Capital (3 Investments)
Pinscreen, Scatter, AltspaceVR
8
Samsung Venture Investment(3
Investments)
Loom.ai, FOVE, Bubl
9
Vulcan Capital (3 Investments)
Nomadic, VREAL, Pixvana
10
EARLY STAGE
Virtualitics, Varjo Technologies, Mindshow
1
Intel Capital(7 Investments)
VREAL, Voke, WorldViz
2
Presence Capital(6 Investments)
Varjo Technologies, Radd3, Eonite
3
Comcast Ventures(5 Investments)
Baobab Studios, NextVR, Felix & Paul Studios
4
Samsung Venture Investment(4
Investments)
Looxid Labs, Baobab Studios, 8i
5
The Virtual Reality Company, Merge Labs, 8i
6
Qualcomm Ventures (3 Investments)
THE VOID, 360fly, Mantis Vision
7
GV (3 Investments)
Emergent, Envelop VR, JauntVR
8
Signia Venture Partners (3 Investments)
Eonite, STRIVR, 8i
9
Greycroft Partners (3 Investments)
Mindshow, TheWaveVR, LiveLike
10
LATE STAGE
China Media Capital (2 Investments)
Jaunt XR, JauntVR
1
Qualcomm Ventures
Lytro
2
IDG Capital
High Fidelity
3
Intel Capital
InContext Solutions
4
WakingApp
5
Beringea
InContext Solutions
6
GSV Capital
Lytro
7
Breyer Capital
High Fidelity
8
Samsung Venture Investment
Wevr
9
AME Cloud Ventures
Wevr
10

Virtual Reality > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Virtual Reality; Last 5 years (May 2014-May 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
Boost VC(41 Investments)
Quark VR, Shadoworks Studio, Kokowa
1
Techstars(16 Investments)
LIV, Rodin, AppliedVR
2
Plug and Play Tech Center(16
Investments)
Synamon, Karuna Labs, Limbix
3
MassChallenge(11 Investments)
Future Sight, Luminopia, Flatspace
4
Y Combinator(9 Investments)
Psylaris, Sketchbox, Plexus
5
Startupbootcamp(6 Investments)
Teleporter, VRex Immersive, Galigu VR
6
7 Percent(6 Investments)
Fable Studio, Visby, Eonite
7
500 Startups(5 Investments)
Texel, Holor Media, Penrose
8
Entrepreneur First(5 Investments)
Massless, BetaSight, Lemnis Technologies
9
Play Labs(5 Investments)
VRemedy Labs, MINDA LABS, Coresights
10
OTHER NOTABLE INVESTORS
startup orange(8 Investments)
UMA, OwnLabs, Texel
1
Vive(5 Investments)
Drop, The Rogue Initiative, Mindesk
2
HTC Corporation(5 Investments)
Radd3, Baobab Studios, Wevr
3
Danhua Capital(4 Investments)
SLIVER.tv, Omnivirt, Loom.ai
4
Evolution Media(4 Investments)
Jaunt XR, Baobab Studios, LiveLike
5
TriplePoint Capital(3 Investments)
NextVR, Lytro, Leap Motion
6
Foxconn Electronics(3 Investments)
FOVE, AirSig, Lytro
7
NetEase(3 Investments)
HaptX, NextVR, Improbable
8
SoftBank Group(3 Investments)
Viro Media, NextVR, Improbable
9
Time Warner(3 Investments)
Dreamscape, NextVR, 8i
10
DEBT INVESTORS
Western Technology Investment(5
Investments)
AltspaceVR, Virtuix Omni, MediaSpike
1
TPG(2 Investments)
LiveLike, JauntVR
2
NXT Ventures(2 Investments)
Luminopia, Neurable
3
Trinity Capital Investment
Replay Technologies
4
Mercia Technologies
Gorilla In The Room
5
The FSE Group
AiSolve
6

Virtual Reality > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/3)

Virtual Reality > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
38
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Industrial Robotics
Mar 2019
NewSpace
Mar 2019
Nanotechnology
Mar 2019

Marketmap: Virtual Reality
40
Virtual Reality > Market Details > BlueBox

Key Sub Sectors (1/2)
41
Key Sub Sectors in Virtual Reality
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Companies providing tools to create VR content, such as reality capture solutions, VR
modeling tools, end to end solutions, processing and developer t...
Lytro (2006, Mountain View, Acquired)
326 135 $1.7B
Applications
Companies applying VR technology in various fields like healthcare, education, real estate,
retail, entertainment, social, tourism, etc.
Public)
863 217 $903M
Companies developing tools which enable interactions in virtual reality (for both input and
output) such as hardware peripherals and software for gest...
Eyefluence (2013, Milpitas, Acquired)
213 74 $326M
Studios
Studios making their own virtual reality content including cinematic productions, animation
and interactive experiences
Enterspace (2016, Stockholm, Acquired)
240 41 $308M
Display Devices
Companies manufacturing display devices, such as head-mounted devices, to view VR content
Oculus VR (2012, Irvine, Acquired)
196 27 $213M
Live Streaming
Startups focusing on streaming of live events in virtual reality like sports, music concerts, etc.
Voke (1968, Santa Clara, Acquired)
23 8 $199M
Chips & Sensors
Makers of chips & sensors for VR tracking and image processing
Movidius (2005, San Mateo, Acquired)
Triad Semiconductor (2002, Winston-
salem, $23.8M)
7 6 $167M
Delivery
Platforms for delivery of VR content like videos, experiences, apps as well as platforms
enabling distribution of VR content on various VR publishing ...
EVR Holdings (2015, London, Public)
Jaunt XR (2013, San Mateo, $65M)
187 46 $155M
Virtual Reality > Market Details > Key Sub Sectors

Key Sub Sectors (2/2)
42
Key Sub Sectors in Virtual Reality
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Marketing and Advertising
Companies providing technology solutions to enterprises for advertising/marketing e.g.
technologies that enable the programmatic buying and selling of...
Retinad VR (2014, Montreal, Acquired)
MediaSpike (2011, Mountain View, $5.2M)
40 19 $23M
Companies developing custom apps for clients across various applications
Cooper's New Reality Garage (2017,
Vancouver, Acquired)
Cooperative Innovations (2016, Leeds,
$652k)
152 24 $1.4M
Virtual Reality > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/12)
43
Virtual Reality > Market Details > Detailed Sector Taxonomy

44

45

46

47

48

49

50

51

52

53

54

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
Studios
Studios making their own virtual reality content including cinematic productions, animation and
interactive experiences
(Companies covered 240 | Funded 41 | Total Funding $308M)
$62.2M
(-$127M)
12
(-8)
Within
(2014, Los Angeles, $56.6M)
2
(+1)
Applications > Social > Virtual World
Companies developing social VR world platforms for users to perform various activities through virtual
avatars
$54.3M
(+$14.2M)
6
(-2)
High Fidelity
(2013, San Francisco, $85M)
3
(+3)
Applications > Healthcare & Fitness > Medical Training
Companies providing VR-based products which enable training of medical professionals, in areas such
as surgery training
(Companies covered 40 | Funded 19 | Total Funding $53.3M)
$35.1M
(+$19.9M)
9
(+1)
Vicarious Surgical
(2014, Boston, $31.9M)
4
(+5)
Delivery > Video
Companies offering video platforms like YouTube, specifically for VR videos
$30.2M
(+$24.8M)
8
(-1)
Inception
(2016, Tel Aviv, $15M)
5
(+5)
Display Devices > Smartphone-based > HMD
Companies making smartphone-based VR head-mounted displays (HMDs)
$47.3M
(+$31.5M)
5
(+2)
Varjo Technologies
(2016, Helsinki, $46M)
6
(-3)
Applications > Healthcare & Fitness > Patient Treatment
Companies offering VR solutions for the treatment of disorders & phobias, and for neuro-rehabilitation
$13.7M
(-$88.2M)
7
(-)
TRIPP
7
(+6)
Applications > Entertainment > VR Arcades
Companies developing gaming arcades focused on VR games and experiences
$39M
(+$29.5M)
5
(+4)
Smaaash Entertainment
(2009, Mumbai, Public)
55
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in Virtual Reality in last 2 years (May 2017 - April 2019)
Virtual Reality > Market Details > Top Markets of Investment Activity

Top Markets of Investment Activity (2/2)
Virtual Reality > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Applications > Healthcare & Fitness > Medical Training
Companies providing VR-based products which enable training of medical professionals, in areas such as
surgery training
(Companies created 40 | Funded 19 | Total Funding $53.3M )
1 Vicarious Surgical (2014, Boston, $31.9M)
2
Content Creation Tools > Dev Tools > Streaming
Startups providing streaming solutions for high-resolution VR videos
(Companies created 23 | Funded 11 | Total Funding $68.8M )
1 VREAL (2015, Seattle, $15.1M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
57
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (May 2017 - April 2019)
Virtual Reality > Market Details > Top Markets of Early Stage Investors

Incubators Techstars (#2), 500 Startups (#1)
Seed Rothenberg Ventures (#2), Max Ventures (#1)
Series A/B Comcast Ventures (#2), HTC Corporation (#2)
Series C+ AME Cloud Ventures (#1), TPG (#1)
Enterspace Jul - 2017
Acq by Starbreeze for $2.2M
Surreal Aug - 2016
Acq by STX Entertainment
Secret Location Aug - 2016
Acquired
Immersive Media Dec - 2015
Acq by Digital Domain for $72M
$1.5M - Angel
Dark Slope Studios (2017, Toronto,
$1.5M)
$10M - Series A
$120k - Seed
Lumière VR (2015, Las Vegas, $120k)
$250k - Seed
StoryUP (2015, Columbia, $300k)
Seed
Fable Studio (2017, San Francisco)
Seed
Breach (2016, Trondheim)
$1.1M - Seed
Unlimited (2015, Montreal, $1.1M)
$9.2M - Series A
Here Be Dragons (2014, Los Angeles,
$9.2M)
Mar 2019
VR in Education Market: Upcoming Demand & Growth
Prospect by key players Oculus VR, Google, Alchemy VR,
Digital Journal
Mar 2019
Dark Slope’s Scarygirl Mission Maybee Goes Global With
Zero Latency’s Second-generation Free-roam Vr Platform,
Virtual Reality Reporter
Mar 2019
Pierre Blaizeau Joins Felix & Paul Studios as Head of
Interactive Development, GlobeNewswire
Mar 2019
Pulse Evolution Group Announces Engagement of Marcum as
New Independent Auditor, Citybizlist
Feb 2019
ILMxLAB launches Star Wars: Project Porg on Magic Leap
One, VentureBeat
Feb 2019
Dark Slope Secures $1.5M to Bring Location-based VR to
Toronto, Road to VR
Feb 2019
VR LBE Specialist Dark Slope Exits Stealth, Announces First
Title Scarygirl Mission Maybee, VRFocus
Jan 2019
VR Analytics Platform RetinadVR Acquired by LumiereVR,
Montreal in Technology
Dec 2018
Felix & Paul Studios Adds Key Hires, Expands Into AR, MR
and Immersive Installations with Over 30 Projects in
Development, PRWeb
Nov 2018
Recall Studios Reports Third Quarter 2018 Results Including
$276 Million Increase in Stockholders' Equity, NewMediaWire
Nov 2018
Wreck-It Ralph is getting a warehouse-sized VR experience
at Disney parks, TechCrunch
Oct 2018
VRt Ventures And Shepard Fairey Launch “DAMAGED”
VR/AR Experience, AiThority
News
5
6
14
41
240
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Studios: Market Factsheet
58
Exits
Recent InvestmentsStudios making their own virtual
reality content including
cinematic productions, animation
and interactive experiences
JauntVR
(2013, Palo Alto, $100M)
Within
Wevr
Baobab Studios
The Virtual Reality Company
Top Companies
#1 Top Markets of Investment Activity
Virtual Reality > Market Details > Market: Studios
Companies Created 240 | Funded 41 | Total Funding $308M
0
5
10
15
$0k
$50M
$100M
$150M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Studios

Studios: Top Companies
Market: Studios
Analyst’s Pick
MR content
Investors
Wevr (2010, Los Angeles, $40.3M)
Enabling developers to create and publish VR
content
Minicorn. Stage: Series C
HTC Corporation, Samsung Venture Investment,
Digital Garage and 17 Other Investors
Minicorn. Stage: Series A
TransLink Capital, Marc Benioff, KT and 9 Other
Investors
Dark Corner (2015, Los Angeles)
Los Angeles based studio creating immersive VR
based horror experiences
Editor's Pick. Stage: Unfunded
Analyst’s Pick
California based studio developing VR experiences
Editor's Pick. Stage: Seed
AET Fund, Outpost Capital, Shasta Ventures and 5
Other Investors
Flarb (2001, Los Angeles)
Development studio engaged in HoloLens, Mixed
Reality, AR, and VR games
Illogic (2010, Turin)
Develops solutions in VR/AR using proprietary
software
Immersive VR (2015, Norwich)
Norwich based studio that develops VR/AR/MR
content
Laduma (2015, Liverpool)
Liverpool based studio that develops VR/AR/MR
experiences
Analyst’s Pick
Opaque (2016, Melbourne)
Los Angeles based virtual reality studio
Editor's Pick. Stage: Funded
WI Harper Group
Virtual Arts (2016, Cambridge)
Cambridge-based studio that develops VR, AR, and
MR content
Delin Ventures

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
60
Studios: Leaderboard
Better than Market Average
Market: Studios
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Within 2014 Los Angeles Series B $56.6M 3 - 4 - - 12.1k 3M 7.8k 5 149 2% 1.3k 12%
4.7 Penrose 2015
San
Francisco
Series A $18.7M 4 4 - - 5 3.3k - - 3 - - 206 7%
4.5 Wevr 2010 Los Angeles Series C $40.3M 9 4 - - - 13k - - 9 - - 131 1%
4.2
The Virtual
Reality
Company
2014 Los Angeles Series A $25.3M 2 - - - - 3.3k - - 4 - - 105 3%
4.2 JauntVR 2013 Palo Alto Series C $100M 4 - - - - 20 - - 36 - - 3 18%
4.0
Felix & Paul
Studios
2013 Montreal Series A $6.8M 1 - 4 - - 5.4k 6k 27 13 1 4% 388 8%
3.9
Baobab
Studios
2015
San
Francisco
Series B $31M 4 - 4 - - - 136k 489 6 7 1% - -
3.5 BLVRD 2013
New York
City
Seed $5.3M 2 - - - 4 1.6k - - - - - 39 3%
3.3 StoryUP 2015 Columbia Seed $300k 2 - - - - 3.4k - - - - - 192 6%
3.3
Condition
One
2010 Palo Alto Series A $6.7M 4 - - - - 2.4k - - 5 - - -23 -1%
3.3 ForwardXP 2016 Dallas Unfunded - - 5 4 - - 50 83k 2.1k 1 170 9% 16 47%
3.2
The Rogue
Initiative
2015 Los Angeles Series A - 2 - - - - 659 - - 2 - - 7 1%
3.2 Scatter 2014 Brooklyn Seed - 2 - - - - 1.6k - - - - - 186 13%

Incubators Boost VC (#3), Luma Launch (#1)
Seed Rothenberg Ventures (#3), Presence Capital (#1)
Series A/B GV (#1), Comcast Ventures (#1)
Series C+ IDG Capital (#1), Breyer Capital (#1)
Timefire
IPO'd
$35M - Series D
High Fidelity (2013, San Francisco,
$85M)
$6M - Series A
TheWaveVR (2016, Austin, $12.5M)
$7.6M - Series A
vTime (2015, Liverpool, $7.6M)
$1M - Seed
$669k - Seed
$4M - Series A
VRChat (2014, San Francisco, $5.3M)
Seed
Beast (2016, San Francisco)
$4M - Series A
$22M - Series C
High Fidelity (2013, San Francisco,
$85M)
$1.2M - Seed
VRChat (2014, San Francisco, $5.3M)
$2.5M - Seed
Feb 2019
‘vTime’ Goes XR with New Cross-platform AR Support for
Apple & Android Devices, Road to VR
Jan 2019 Decentraland gears up for Creator Contest, Blockchain Gamer
Dec 2018
MANA Continues to Hold Above $0.050 Upon Coinbase Pro
Listing — Plus LAND Auctions Still Underway!, CryptoScoop
Dec 2018
Social Network VTime Gets An Audio Overhall With A DTS
Update, VRFocus
Nov 2018
Jean-Michel Jarre partners with VR firm TheWaveVR for new
album, Music Business Worldwide
Oct 2018
Poker VR is releasing The Mutant Update !, Virtual Reality
Reporter
Oct 2018
vTime Hires Veteran Gartner Analyst Brian Blau to Lead
International Expansion, PR Newswire
Aug 2018
TimefireVR announces grand opening of Hypatia, a virtual
reality city and playground, SiliconAngle
Aug 2018
Decentraland To Invest $5 Million In Blockchain VR Gaming
Startups, Coin Gamma
Aug 2018
AltspaceVR lets you build your own sharable space in virtual
reality, VentureBeat
Apr 2018
TheWaveVR wraps $6M Series A to fuel its immersive, social
VR music app, TechCrunch
Apr 2018
BRIEF-Vr Social Network Vtime Closes $7.6 Million Series A
Funding Round, Reuters
Mar 2018
MindArk Announces Token Sale to Fund the World's First
Intellectual Property Exchange, Medianet
News
1
2
7
13
35
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Applications > Social > Virtual World: Market Factsheet
61
Exits
Recent InvestmentsCompanies developing social VR
world platforms for users to
perform various activities through
virtual avatars
High Fidelity
AltspaceVR
(2013, Redwood City, $15.7M)
Avatar Reality
(2006, Honolulu, $13M)
TheWaveVR
(2016, Austin, $12.5M)
vTime
(2015, Liverpool, $7.6M)
Top Companies
Virtual Reality > Market Details > Market: Virtual World
0
5
10
15
$0k
$50M
$100M
$150M
2014 2015 2016 2017 2018
Market: Virtual World

Applications > Social > Virtual World: Top Companies
Analyst’s Pick
5 Other Investors
AmeVRica (2017, Burlington)
Cross-platform open source blockchain-based
virtual world
Decentraland (2014, Buenos Aires)
VR world with a blockchain based in-built economy.
Suicide Ventures, Digital Currency Group, CMCC
Global

63
Applications > Social > Virtual World: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 AltspaceVR 2013
Redwood
City
Acqui-
Hired
$15.7M 2 5 3 - - 30.3k 75k 1.1k 13 96 10% 1.7k 6%
4.9 vTime 2015 Liverpool Series A $7.6M 1 - 4 - - 2.8k 330k 1.6k 4 203 15% 67 3%
4.8 TheWaveVR 2016 Austin Series A $12.5M 3 - - - - 4.2k - - 6 - - 589 16%
4.1 Timefire 2014 Phoenix Public $1.7M 2 - - - - 1.2k - - 12 - - 25 2%
3.7
Decentralan
d
2014
Buenos
Aires
Funded - 1 4 - - 3 44.5k - - 7 - - 3.6k 9%
3.5 High Fidelity 2013
San
Francisco
Series D $85M 5 - - - 3 8 - - 11 - - - -
3.3 VRChat 2014
San
Francisco
Series A $5.3M 3 - - - - 39 - - 4 - - - -
3.2 Nurulize 2013 Culver City Seed $2M 1 - - - - 518 - - - - - 15 3%
2.9 Beast 2016
San
Francisco
Seed - 1 - - - 2 521 - - - - - 147 39%
2.7 SurrealVR 2011
New York
City
Seed $450k 3 3 4 - - 811 3k 199 - 5 3% -15 -2%
2.2
Avatar
Reality
2006 Honolulu Series A $13M 1 - - - 3 - - - - - - - -
2.1 MindArk 1999 Gothenburg Unfunded - - - 4 - - - 300k 1.4k 2 30 2% - -
1.7 AvaCon 2010 Rehoboth Unfunded - - - - - - 422 - - - - - 22 6%
1.7 Timepath 2015 Barcelona Unfunded - - - - - - 148 - - - - - 22 17%

Incubators Boost VC (#1)
Seed Rothenberg Ventures (#1), Anorak Ventures (#1)
Series A/B HTC Corporation (#1), AME Cloud Ventures (#1)
Series C+
None
$10M - Series A
Vicarious Surgical (2014, Boston,
$31.9M)
$2.3M - Series A
Precision OS (2017, Vancouver, $2.3M)
$1.4M - Seed
FundamentalVR (2012, London,
$2.6M)
Seed
Oxford Medical Simulation (2017,
London)
$16.8M - Series A
Vicarious Surgical (2014, Boston,
$31.9M)
$900k - Seed
ImmersiveTouch (2005, Chicago,
$900k)
Seed
Osgenic (2017, Helsinki)
$2.4M - Seed
Osso VR (2016, San Francisco, $2.4M)
$1.3M - Series A
Holoeyes (2016, Tokyo, $1.3M)
May 2019
Surgical Theater Brings a New Approach to Patient
Engagement Utilizing Augmented Reality with Magic Leap,
PR Newswire
Apr 2019
Apr 2019 Surgery Residents Begin Training in VR, Business Wire
Apr 2019
NHS doctors train using virtual reality to improve care for
people with diabetes, RealWire
Mar 2019
FundamentalVR demonstrates touch-simulating gloves for
virtual surgical training, SiliconAngle
Mar 2019
AAOS 2019: OSSO VR Develops VR Training Tool For Smith &
Nephew's NAVIO Robot, And More On Orthorobotics, Informa
Mar 2019
HaptX teams up with FundamentalVR to create VR surgery
gloves, VentureBeat
Feb 2019
Surgical Theater Demonstrating Virtual and Augmented
Reality Solutions for Skull Base Surgery to the Annual North
American Skull Base Society, PRWeb
Feb 2019
Bill Gates-backed Vicarious Surgical adds a virtual reality
twist to robots in the operating room, TechCrunch
Feb 2019
Osso VR awarded $222K by National Science Foundation: 4
things to know, Becker
Jan 2019
Vicarious Surgical raises $10M for robot-assisted surgery,
The Robot Report
Jan 2019
ePlus Partners with Intel and Surgical Theater for Virtual
Reality Surgical Imaging, Investing News
Dec 2018
FundamentalVR Hires Claudette Lajam, M.D., Orthopedics This
Week
News
-
-
4
19
40
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Applications > Healthcare & Fitness > Medical Training: Market Factsheet
64
Exits
Recent InvestmentsCompanies providing VR-based
products which enable training of
medical professionals, in areas
such as surgery training
Vicarious Surgical
(2014, Boston, $31.9M)
Surgical Theatre
(2010, Mayfield Heights, $10.6M)
FundamentalVR
(2012, London, $2.6M)
Osso VR
(2016, San Francisco, $2.4M)
Precision OS
(2017, Vancouver, $2.3M)
Top Companies
Virtual Reality > Market Details > Market: Medical Training
Companies Created 40 | Funded 19 | Total Funding $53.3M
0
5
10
15
$0k
$20M
$40M
$60M
2014 2015 2016 2017 2018
Market: Medical Training

Applications > Healthcare & Fitness > Medical Training: Top Companies
Analyst’s Pick
Marc Benioff, Gates Frontier, Khosla Ventures and 8
Other Investors
FundamentalVR (2012, London, $2.6M)
VR/MR based training, simulation and education
for the medical and communications markets
Tern, Founders Factory
Platforms for orthopedic simulation in VR/MR/AR
Editor's Pick. Stage: Series A
AO Invest
Virti (2017, San Mateo)
VR/AR based medical training platform
NHS Innovation Accelerator

66
Applications > Healthcare & Fitness > Medical Training: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0
Surgical
Theatre
2010
Mayfield
Heights
Series A $10.6M 6 - 5 - - 665 750 10 18 1 11% 85 15%
4.9 Osso VR 2016
San
Francisco
Seed $2.4M 2 - - - - 982 - - 6 - - 133 16%
4.4
ImmersiveT
ouch
2005 Chicago Seed $900k 2 - - - - 351 - - 4 - - 30 9%
4.2
Vicarious
Surgical
2014 Boston Series A $31.9M 6 - - - - - - - 4 - - - -
3.8
Oxford
Medical
Simulation
2017 London Seed - 1 - - - 3 573 - - 1 - - 249 77%
3.7
Fundamental
VR
2012 London Seed $2.6M 1 4 - - 4 - - - 6 - - - -
3.5 Virti 2017 San Mateo Funded - - 4 - - 4 1.3k - - - - - 388 45%
3.2 Precision OS 2017 Vancouver Series A $2.3M 1 4 - - 3 - - - 2 - - - -
3.2 ORamaVR 2016 Seattle Funded - - - - - 5 72 - - - - - 25 53%
3.0 Holoeyes 2016 Tokyo Series A $1.3M 1 3 5 - 4 - 300 3 - - - - -
3.0
Fundamental
Surgery
2017 London Unfunded - - 4 - - 4 1.7k - - 1 - - 966 133%
2.9
Medical
Realities
2015 London Unfunded - - - 4 - - 2.7k 7k 25 - 2 9% 98 4%
2.6 BioflightVR 2015 Los Angeles Funded - - - - - - 173 - - - - - 15 9%

Virtual Reality > Market Details > Market: Video
Market: Video

Market: Video

Virtual Reality > Market Details > Market: HMD
Market: HMD

Market: HMD

Virtual Reality > Market Details > Market: Patient Treatment
Market: Patient Treatment

Virtual Reality > Market Details > Market: VR Arcades
Market: VR Arcades

Market: VR Arcades

Virtual Reality > Market Details > Market: Streaming
Market: Streaming

Market: Streaming

Virtual Reality > Market Details > Market: Professional Collaboration
Market: Professional Collaboration

Virtual Reality > Market Details > Market: Live Streaming
Market: Live Streaming

Virtual Reality > Market Details > Market: End-to-end Solution Providers
Market: End-to-end Solution Providers

Virtual Reality > Market Details > Market: Multi-disciplinary
Market: Multi-disciplinary

Virtual Reality > Market Details > Market: Character Creation
Market: Character Creation

Contents
96

Public companies (1/2)
98
Performance indicators of public companies in Virtual Reality
IPO Date Company
IPO
Mcap
Exchange
Ticker
Jul 2018
Immotion (2017, Manchester)
Location based virtual reality simulators and CMS to manage it
$27.5M
LON :
IMM
O
Mar 2018
VR platform for showcasing training content in an immersive
environment
$29M VRE
Oct 2017
Smaaash Entertainment (2009, Mumbai)
$65.5M NASDAQ:SMSH
Nov 2016
Crunchfish (2010, Stockholm)
Touchless gesture recognizing software for computer interaction
STO:CFISH
May 2016
EVR Holdings (2015, London)
Audiovisual and interactive content for use in virtual reality devices
$11.3M LON:EVRH
Jan 2016
Developer of high-end interaction devices, hardware and software
components for industries
EPA:ALIMR
Nov 2011
InvenSense (2003, San Jose)
MotionTracking sensor system on chips with integrated motion and
sound solutions
$595M NYSE:INVN
Jan 2009
$1.7M CVE:YDX
Virtual Reality > Exit Outlook > Public Companies

Public companies (2/2)
99
Performance indicators of public companies in Virtual Reality
IPO Date Company
IPO
Mcap
Exchange
Ticker
Nov 1999
NASDAQ:IMMR
Jul 1996
KOSDAQ:18700
MelodyVR (2015, London)
VR content production enabling VR music experiences
Timefire (2014, Phoenix)
VR platform for connecting businesses with consumers online and
off
Kogeto (2010, New York City)
Creates multi-types of VR glasses and a glass-free stereoscopic VR
tablet
Virtual Reality > Exit Outlook > Public Companies

Notable Acquisitions (1/2)
100
Notable Acquisitions in Virtual Reality
Virtual Reality > Exit Outlook > Notable Acquisitions
2019 YTD
Acquirer: GN Group Deal: $125M
software products
2018
Acquirer: Google Deal: $40M
2016
Acquirer: TDK Deal: $1.3B
Acquirer: Planar Systems Deal: $125M
Acquirer: Intel
Voke (1968, Santa Clara, $25.2M)
Platform for on-demand streaming in VR
Acquirer: Tessera
Pelican Imaging (2008, Mountain View, $37M)
Computational Cameras for depth sensing
Acquirer: Google

Notable Acquisitions (2/2)
101
Notable Acquisitions in Virtual Reality
Virtual Reality > Exit Outlook > Notable Acquisitions
2016
Acquirer: Intel
deep-learning
Acquirer:
CyberGlove Systems (1990, California)
Hand-centric hardware and software solutions, for
VR interactions
Acquirer: Intel Deal: $175M
2014
Acquirer: Facebook Deal: $2B

Most Active Acquirers
102
Virtual Reality > Exit Outlook > Most Active Acquirers

Acqui-hires
103
List of Acqui-hires in Virtual Reality
Excludes all details for Chinese companies
Date Target
Dec-18 VadR Acq by Leena AI
Oct-17 AltspaceVR Acq by Microsoft
Virtual Reality > Exit Outlook > Acqui-hires
View all 2 Acqui-hired companies on Tracxn Platform

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
104
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

Virtual Reality > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Virtual Reality; Last 5 years (May 2014 - Apr 2019)
Index of Most Active VC & PE Investors
SEED STAGE
Presence Capital (9 Investments)
Anorak Ventures (5 Investments)
Right Side Capital Management (4 Investments)
Samsung Venture Investment (3 Investments)
CRCM Venture (3 Investments)
Lux Capital (3 Investments)
Social Starts (3 Investments)
Vulcan Capital (3 Investments)
HTGF (3 Investments)
Almi (3 Investments)
Suir Valley Ventures (3 Investments)
Outpost Capital (2 Investments)
EARLY STAGE
Intel Capital (7 Investments)
Presence Capital (6 Investments)
Comcast Ventures (5 Investments)
Samsung Venture Investment (4 Investments)
Qualcomm Ventures (3 Investments)
GV (3 Investments)
Samsung NEXT (3 Investments)
Greycroft Partners (3 Investments)
Signia Venture Partners (3 Investments)
Andreessen Horowitz (2 Investments)
CRCM Venture (2 Investments)
Advancit Capital (2 Investments)
LATE STAGE
China Media Capital (2 Investments)
Qualcomm Ventures
Intel Capital
IDG Capital
AME Cloud Ventures
Green Pine Capital Pariners
Sound Ventures
Beringea
GSV Capital
Breyer Capital
ARCH Venture Partners
SAIF Partners
Mitsubishi UFJ Capital

Rothenberg Ventures
107
Portfolio in Virtual Reality | Exits | Funds Link | Website | LinkedIn | Twitter
Virtual Reality > Investors > Rothenberg Ventures
People
Investments
[Soonicorn] Matterport (2011, Mountain View, $114M, Series D)
[Soonicorn] JauntVR (2013, Palo Alto, $100M, Series C)
Producer and distributor of immersive VR, AR, and MR content
[Soonicorn] 8i (2014, Los Angeles, $41.5M, Series B)
[Minicorn] Wevr (2010, Los Angeles, $40.3M, Series C)
Enabling developers to create and publish VR content
[Minicorn] Vicarious Surgical (2014, Boston, $31.9M, Series A)
[Editor's Pick] Machina (2011, Mexico City, $233k, Seed)
Clothing with embedded sensors
Virtual Reality Notable Portfolio
[Unicorn] Robinhood (2012, Palo Alto, $539M, Series D)
Zero commission trading app
[Unicorn] Gusto (2011, San Francisco, $316M, Series C)
Cloud-based HRMS and payroll management solution
[Soonicorn] Planet Labs (2010, San Francisco, $351M, Series D)
Microsatellites to maps the earth to provide universal access to
information
[Soonicorn] Revel Systems (2010, San Francisco, $153M, Series
C)
iPad-based restaurant management solution
[Soonicorn] Apartment List (2008, San Francisco, $110M, Series
C)
Apartment Listing Aggregator
[Soonicorn] Patreon (2013, San Francisco, $107M, Series C)
Crowdfunding for musicians, artists & content creators.
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Mike
Rothenberg
Founder & General
Partner
Geographical Spread Stage of Entry
Feb 2019
Bill Gates-backed Vicarious Surgical adds a virtual reality
twist to robots in the operating room, TechCrunch
Jan 2019
Vicarious Surgical raises $10M for robot-assisted surgery,
The Robot Report
Nov 2018
Jean-Michel Jarre partners with VR firm TheWaveVR for
new album, Music Business Worldwide
Jun 2018
TheWaveVR and The Glitch Mob to Launch Interactive VR,
Apr 2018
TheWaveVR wraps $6M Series A to fuel its immersive,
social VR music app, TechCrunch
Apr 2018
Vicarious Surgical Closes $16.75 Million in Series A
Funding, PR Newswire
Mar 2018
TheWaveVR launches Ready Player One music VR
experience at SXSW, VentureBeat
Jan 2018 Stealthy Vicarious Surgical adds nearly $13m, MassDevice
Aug 2017
Immersv Scores $10.5 Million for VR Ads, The Wall Street
Journal
Apr 2017
TheWaveVR releases social VR music beta and raises $4
million, VentureBeat
Retinad VR
(2014, Montreal, $600k)
Acq by Lumière VR - Jan 2019
4
1 22
18
7
2014 2015 2016 2017 2018 2019
Follow On New Investments
3
-
-
4
24
Undisclosed
Series C+
Series B
Series A
Seed23
3
2
1
1
US
Europe
Canada
India
South Africa

Presence Capital
108
Virtual Reality > Investors > Presence Capital
People
Investments
[Minicorn] Sandbox VR (2013, Hong Kong, $68M, Series A)
Location-based VR entertainment stations
[Editor's Pick] Fyusion (2013, San Francisco, $68.4M, Series B)
Developer of 3D image processing technology for consumer
applications
[Editor's Pick] Varjo Technologies (2016, Helsinki, $46M,
Series B)
Head mounted display with resolution matching human eye
[Editor's Pick] Loom.ai (2016, San Francisco, $5.9M, Seed)
Platform to create avatars for applications in AR, VR, gaming, and
messaging
[Editor's Pick] Visbit (2015, Sunnyvale, $3.2M, Seed)
Cloud streaming service for 360º virtual reality videos
[Soonicorn] Thalmic Labs (2012, Kitchener, $136M, Series B)
Developing wearable technology for interaction with computers.
[Minicorn] Scope AR (2010, Edmonton, $15.8M, Series A)
AR-based solutions for the industrial purposes such as virtual
assistance, training modules and manuals
[Minicorn] Resolution Games (2015, Stockholm, $13.5M, Series
B)
VR and AR game development studio based in Sweden
[Editor's Pick] Lightform (2014, San Francisco, $7.6M, Series A)
3D scanner for projected augmented reality
[Editor's Pick] TORCH AR (2017, Portland, $3.5M, Seed)
Platform for enterprise to design and prototype AR applications
[Editor's Pick] 6D.Ai (2017, San Francisco, Seed)
APIs for AR application developers
Top Exits
Paul Bragiel
Co-Founder &
Managing Partner
Amitt Mahajan
Co-Founder &
Managing Partner
Phil Chen
Co-Founder &
Managing Partner
Apr 2019
Nomadic unveils Arizona Sunshine: Rampage for VR
arcades, VentureBeat
Feb 2019
Varjo VR-1: First Commercial VR Headset that Makes
Sense, eWEEK
Feb 2019 Finnish startup Varjo rolls out $5,995 VR headset, Reuters
Dec 2018
SAAB Assigns Bublar Group to Further Develop the Carl-
Gustaf Experience in Virtual Reality, PR Newswire
Dec 2018
A Mission: Impossible VR Experience Is Coming To VR
Arcades In 2019, VRFocus
Nov 2018
Pixvana and Limbix Team Up to Create Virtual Reality
Therapy for Adolescent Depression, Business Wire
Nov 2018
Nomadic Opens LBE Zombie Shooter ‘Arizona Sunshine’
at VR Center in Florida, virtualrealitysummit.com
Oct 2018
Varjo raises $31 million for industrial VR headset with
human-eye resolution, VentureBeat
Oct 2018
Nomadic will launch Arizona Sunshine VR arcade in
Orlando, VentureBeat
Jul 2018
Nomadic Partners with Vertigo Games to Bring VR Titles
to Nomadic Locations, Virtual Reality Reporter
None
11
5
7
2014 2015 2016 2017 2018 2019
7
-
1
5
9
Undisclosed
Series C+
Series B
Series A
Seed19
2
1
-
-
US
Europe
China

Colopl Next
109
Virtual Reality > Investors > Colopl Next
People
Investments
applications
[Editor's Pick] SLIVER.tv (2015, Cupertino, $32M, Series A)
VR platform for viewing eSports competitions
[Editor's Pick] Visbit (2015, Sunnyvale, $3.2M, Seed)
Cloud streaming service for 360º virtual reality videos
[Editor's Pick] SuperXYZInc (2017, San Francisco, $1.1M, Seed)
VR browser for web-based VR content
[Editor's Pick] Fishbowl (2014, San Francisco, $118k, Seed)
On-demand testing for VR apps
[Minicorn] BitStar (2014, Tokyo, $14.5M, Series C)
Marketplace for influencer marketing
[Minicorn] Resolution Games (2015, Stockholm, $13.5M, Series
B)
VR and AR game development studio based in Sweden
[Editor's Pick] InsideMaps (2012, Mountain View, Series A)
Easy 3D Model Creation
Top Exits
Shintaro
Yamakami
CEO
Feb 2019
Massless raises $2M to build an Apple Pencil for virtual
reality, TechCrunch
Nov 2018
SLIVER.tv, Tencent Games partner for Ring of Elysium
channel, Esports Insider
Aug 2018
Vantage Point Secures Seed Funding Round of $1.3M to
Bring VR-Based Anti-Sexual Harassment Training to
Enterprises, Newswire
Jul 2018
Supermedium scores $1.1M in seed funding for its web-
first vision for virtual reality, TechCrunch
Apr 2018
Twitch Partners with SLIVER.tv to Launch Interactive
"Tilted Trivia" Extension to Millions of Twitch Esports
Fans, PR Newswire
Feb 2018
GVR Fund Raises $18.3 Million, Investing in Seventeen
Augmented Reality (AR) And Virtual Reality (VR)
Startups, PR Newswire
Feb 2018
Sliver.tv raises $20 million in ICO presale to improve
esports streaming, VentureBeat
Jan 2018
Supermedium launches its virtual reality web browser
backed by Y Combinator, TechCrunch
Retinad VR
(2014, Montreal, $600k)
Acq by Lumière VR - Jan 2019
1 1
6
1
2
2014 2015 2016 2017 2018 2019
12
-
-
2
8
Undisclosed
Series C+
Series B
Series A
Seed18
2
1
1
-
US
Japan
Europe
Canada

Venture Reality Fund
110
Virtual Reality > Investors > Venture Reality Fund

Anorak Ventures
111
Virtual Reality > Investors > Anorak Ventures

Right Side Capital Management
112
Virtual Reality > Investors > Right Side Capital Management

113
Virtual Reality > Investors > Samsung Venture Investment

Lux Capital
114
Virtual Reality > Investors > Lux Capital

Social Starts
115
Virtual Reality > Investors > Social Starts

Vulcan Capital
116
Virtual Reality > Investors > Vulcan Capital

Suir Valley Ventures
117
Virtual Reality > Investors > Suir Valley Ventures

Outpost Capital
118
Virtual Reality > Investors > Outpost Capital

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
119
Seed Stage
Early Stage
Late Stage

Venture Reality Fund
120
Virtual Reality > Investors > Venture Reality Fund

Intel Capital
121
Virtual Reality > Investors > Intel Capital

Presence Capital
122
Virtual Reality > Investors > Presence Capital

Comcast Ventures
123
Virtual Reality > Investors > Comcast Ventures

124

Rothenberg Ventures
125
Virtual Reality > Investors > Rothenberg Ventures

Qualcomm Ventures
126
Virtual Reality > Investors > Qualcomm Ventures

GV
127
Virtual Reality > Investors > GV

Samsung NEXT
128
Virtual Reality > Investors > Samsung NEXT

Greycroft Partners
129
Virtual Reality > Investors > Greycroft Partners

Signia Venture Partners
130
Virtual Reality > Investors > Signia Venture Partners

Colopl Next
131
Virtual Reality > Investors > Colopl Next

Andreessen Horowitz
132
Virtual Reality > Investors > Andreessen Horowitz

Advancit Capital
133
Virtual Reality > Investors > Advancit Capital

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
134
Seed Stage
Early Stage
Late Stage

China Media Capital
135
Virtual Reality > Investors > China Media Capital

Qualcomm Ventures
136
Virtual Reality > Investors > Qualcomm Ventures

Intel Capital
137
Virtual Reality > Investors > Intel Capital

138

IDG Capital
139
Virtual Reality > Investors > IDG Capital

AME Cloud Ventures
140
Virtual Reality > Investors > AME Cloud Ventures

Green Pine Capital Pariners
141
Virtual Reality > Investors > Green Pine Capital Pariners

Sound Ventures
142
Virtual Reality > Investors > Sound Ventures

GSV Capital
143
Virtual Reality > Investors > GSV Capital

Breyer Capital
144
Virtual Reality > Investors > Breyer Capital

ARCH Venture Partners
145
Virtual Reality > Investors > ARCH Venture Partners

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
146
Incubators
Other Notable Investors
Debt Investors

Virtual Reality > Investors > Index of Ecosystem Investors
Index of Top Ecosystem Investors in Virtual Reality; Q2 2014 - Q2 2019
Index of Ecosystem Investors
INCUBATOR
Boost VC (41 Investments)
Techstars (16 Investments)
Plug and Play Tech Center (16 Investments)
MassChallenge (11 Investments)
Y Combinator (9 Investments)
Startupbootcamp (6 Investments)
7 Percent (6 Investments)
500 Startups (5 Investments)
Entrepreneur First (5 Investments)
Play Labs (5 Investments)
IIDF (4 Investments)
Founders Factory (4 Investments)
Incubate Fund (3 Investments)
Bethnal Green Ventures (3 Investments)
Disney Accelarator (3 Investments)
OTHER NOTABLE INVESTORS
startup orange (8 Investments)
Vive (5 Investments)
HTC Corporation (5 Investments)
Danhua Capital (4 Investments)
Evolution Media (4 Investments)
TriplePoint Capital (3 Investments)
Foxconn Electronics (3 Investments)
NetEase (3 Investments)
SoftBank Group (3 Investments)
Time Warner (3 Investments)
CAA Ventures (3 Investments)
National Science Foundation (2 Investments)
Tencent (2 Investments)
21st Century Fox (2 Investments)
Kima Ventures (2 Investments)
DEBT INVESTORS
Western Technology Investment (5
Investments)
TPG (2 Investments)
NXT Ventures (2 Investments)
Mercia Technologies
The FSE Group

Boost VC
148
Virtual Reality > Investors > Boost VC
People
Investments
[Soonicorn] 8i (2014, Los Angeles, $41.5M, Series B)
[Editor's Pick] BinaryVR (2015, San Francisco, $6.2M, Series A)
Facial expression tracking & replication in VR avatar
[Editor's Pick] SuperXYZInc (2017, San Francisco, $1.1M, Seed)
[Unicorn] Coinbase (2012, San Francisco, $547M, Series E)
Digital currency exchange & wallet provider
[Soonicorn] Ledger (2014, Paris, $82M, Series B)
Cryptocurrency hardware wallet provider
[Minicorn] Veem (2014, San Francisco, $69.3M, Series B)
B2B payment platform.
[Minicorn] Verse (2015, Barcelona, $31.1M, Series B)
Mobile application to share payments with friends
[Minicorn] Transcriptic (2012, Menlo Park, $27.7M, Series A)
Cloud-based remote robotic bio-lab
[Minicorn] Sentinel Protocol (2018, Singapore, $27M, Series A)
Blockchain-based threat intelligence system
[Minicorn] SFOX (2014, San Francisco, $22.8M, Series A)
Online Bitcoin broker
[Minicorn] 7shifts (2011, Regina, $14.7M, Series A)
Online employee scheduling software
[Minicorn] Wyre (2013, San Francisco, $5.8M, Series A)
International money transfers using blockchain
[Minicorn] Amun (2018, Zug, $4M, Seed)
Basket of crypto assets
Top Exits
Brayton
Williams
Founder & Partner
Adam Draper
Founder & MD
Nov 2018
Jean-Michel Jarre partners with VR firm TheWaveVR for
new album, Music Business Worldwide
Aug 2018
Ottawa-based MasterpieceVR joins Silicon Valley
accelerator, obj.ca
Jul 2018
Supermedium scores $1.1M in seed funding for its web-
first vision for virtual reality, TechCrunch
Jun 2018
TheWaveVR and The Glitch Mob to Launch Interactive VR,
Apr 2018
TheWaveVR wraps $6M Series A to fuel its immersive,
social VR music app, TechCrunch
Mar 2018
TheWaveVR launches Ready Player One music VR
experience at SXSW, VentureBeat
Feb 2018
Mixed reality analytics are critical for VR/AR startups,
VentureBeat
Jan 2018
Supermedium launches its virtual reality web browser
backed by Y Combinator, TechCrunch
Dec 2017
Mindshow now offers VR sharing for its improv app,
VentureBeat
Sep 2017
Mindshow brings VR puppet theater to Steam's Early
Access for HTC Vive | VentureBeat, VentureBeat
None
2
12
15
7
1
2014 2015 2016 2017 2018 2019
6
-
-
2
33
Undisclosed
Series C+
Series B
Series A
Seed28
9
3
1
-
US
Europe
Canada
Taiwan

Techstars
149
Virtual Reality > Investors > Techstars
People
Investments
[Minicorn] LiveLike (2015, San Francisco, $23M, Series B)
[Minicorn] IrisVR (2014, New York City, $10.2M, Series A)
Virtual reality-based tools for the AEC industry
[Editor's Pick] VIAR (2015, Celje, $550k, Seed)
Developer of authoring and distribution tools for VR/AR
[Editor's Pick] Fishbowl (2014, San Francisco, $118k, Seed)
[Unicorn] Twilio (2007, San Francisco, $240M, Public)
Cloud Communications API provider
[Unicorn] Outreach (2013, Seattle, $239M, Series E)
SaaS based Lead Engagement Tools
[Soonicorn] ClassPass (2011, New York City, $308M, Series D)
Membership programs for fitness classes across multiple gyms
[Soonicorn] Remitly (2011, Seattle, $227M, Series D)
Cross-border money transfer using banking networks.
[Soonicorn] DataRobot (2012, Boston, $225M, Series D)
Automated machine learning platform for data science applications
[Soonicorn] SalesLoft (2011, Atlanta, $146M, Series D)
Sales Prospecting and email engagement tool
[Soonicorn] Leanplum (2012, San Francisco, $145M, Series D)
Mobile A/B testing, personalization & analytics platform
[Soonicorn] DigitalOcean (2011, New York City, $134M, Series
B)
Cloud computing platform to build, deploy and scale cloud applications
Top Exits
David Cohen
Co-Founder & Co-CEO
Brad Feld
Co-Founder & Partner
David Brown
Co-Founder & Co-CEO
Feb 2019 Dubai digital bank launches smartphone insurance, ITP
Feb 2019
uget Systems and IrisVR Announce Technology
Partnership to Deliver VR-Ready Workstations for AEC
Firms, PR Newswire
Jan 2019
VR Analytics Platform RetinadVR Acquired by LumiereVR,
Montreal in Technology
May 2018
The AEC Industry Creates Over 108,000 Virtual Reality
(VR) Experiences with IrisVR, PR Newswire
Feb 2018
LiveLike raises $9.6M to get more broadcasters streaming
in VR, mmotimes.com
Feb 2018
IrisVR announces virtual reality meeting software for
instant collaboration, SiliconAngle
Sep 2017
EEVO, a startup powering VR apps for the BBC and others,
raises $1.3M, TechCrunch
Aug 2017
Entertainment Startup LiveLike Brings In $7.5 Million -
NewsCenter.io, NewsCenter
Aug 2017
Fishbowl adds AR to its VR consulting and testing
portfolio | VentureBeat, VentureBeat
Jun 2017
LiveLike will now let you watch sports with your
Facebook friends in VR – TechCrunch, TechCrunch
None
1 11
4
4
2
2014 2015 2016 2017 2018 2019
5
-
-
1
12
Undisclosed
Series C+
Series B
Series A
Seed15
3
-
-
-
US
Europe

Plug and Play Tech Center
150
Virtual Reality > Investors > Plug and Play Tech Center
People
Investments
[Soonicorn] Matterport (2011, Mountain View, $114M, Series D)
applications
[Editor's Pick] Karuna Labs (2016, San Francisco, Funded)
VR for neurorahabilitation and pain management
[Editor's Pick] ZeroLight (2012, Newcastle Upon Tyne, Series A)
Software for 3D visualizations of automotive retail products
[Unicorn] UiPath (2005, Bucharest, $1B, Series D)
Robotic process automation software
[Unicorn] Dropbox (2007, San Francisco, $607M, Public)
Cloud-based file sharing and synchronization software
[Unicorn] Guardant Health (2012, Redwood City, $550M, Series
E)
Cancer detection, care and treatment through Digital Sequencing
Technology
[Unicorn] N26 (2013, Berlin, $515M, Series D)
Mobile-first bank for retail customers.
[Unicorn] Sprinklr (2008, New York City, $239M, Series F)
Social Media Presence Management Platform
[Unicorn] Lending Club (2006, San Francisco, $162M, Public)
P2P online lending marketplace
[Soonicorn] Planet Labs (2010, San Francisco, $351M, Series D)
Microsatellites to maps the earth to provide universal access to
information
Top Exits
Saeed Amidi
Founder & CEO
Jojo Flores
Co-Founder & VP
Apr 2019
Cappasity to Present its 3D Imaging Solution for Art
During the Venice Biennale 2019, PRWeb
Mar 2019
AAOS 2019: OSSO VR Develops VR Training Tool For
Smith & Nephew's NAVIO Robot, And More On
Orthorobotics, Informa
Feb 2019
Samsonite to Use Cappasity Platform for Its US Online
Stores Product Visualization, Business Wire
Feb 2019
Osso VR awarded $222K by National Science Foundation:
4 things to know, Becker
Jan 2019
Sennheiser And Dear Reality Present End-to-end
Workflow For Xr 3d Audio, Virtual Reality Reporter
Jan 2019
SriLankan installs SkyLights’ VR cinema at Serendib
Business Class Lounge, The Associated Newspapers of
Ceylon Ltd
Jan 2019
Cappasity to Provide European Jeweler Guérin Joaillerie
with 3D Product Imaging Solution, Business Wire
Nov 2018
Pixvana and Limbix Team Up to Create Virtual Reality
Therapy for Adolescent Depression, Business Wire
Oct 2018
Medical Sales College To Train Students Using Osso VR
Tech, VRFocus
None
1
2014 2015 2016 2017 2018 2019
15
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed9
4
2
1
-
US
Europe
Japan
Australia

Y Combinator
151
Virtual Reality > Investors > Y Combinator

Startupbootcamp
152
Virtual Reality > Investors > Startupbootcamp

7 Percent
153
Virtual Reality > Investors > 7 Percent

500 Startups
154
Virtual Reality > Investors > 500 Startups

Founders Factory
155
Virtual Reality > Investors > Founders Factory

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
156
Incubators
Debt Investors

startup orange
157
Virtual Reality > Investors > startup orange

Vive
158
Virtual Reality > Investors > Vive

HTC Corporation
159
Virtual Reality > Investors > HTC Corporation

Danhua Capital
160
Virtual Reality > Investors > Danhua Capital

Evolution Media
161
Virtual Reality > Investors > Evolution Media

TriplePoint Capital
162
Virtual Reality > Investors > TriplePoint Capital

Foxconn Electronics
163
Virtual Reality > Investors > Foxconn Electronics

NetEase
164
Virtual Reality > Investors > NetEase

SoftBank Group
165
Virtual Reality > Investors > SoftBank Group

Time Warner
166
Virtual Reality > Investors > Time Warner

CAA Ventures
167
Virtual Reality > Investors > CAA Ventures

National Science Foundation
168
Virtual Reality > Investors > National Science Foundation

Tencent
169
Virtual Reality > Investors > Tencent

Kima Ventures
170
Virtual Reality > Investors > Kima Ventures

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
171
Incubators
Debt Investors

Western Technology Investment
172
Virtual Reality > Investors > Western Technology Investment

TPG
173
Virtual Reality > Investors > TPG

NXT Ventures
174
Virtual Reality > Investors > NXT Ventures

175
Virtual Reality > Investors > Trinity Capital Investment

Contents
Feed Summary
Investment Trend
Key Markets
Exit Outlook
Investors
News
Appendix
176
Recent News

Recent News (1/2)
178
Virtual Reality > News > Recent News
May 2019
Farmers teams up with VR company for training program,
insurancebusinessmag.com
May 2019 NOMOKO wins the 26th Prix Strategis, Startupticker
May 2019
Zappar Introduces ZapWorks Studio6, Augmented Reality Content
Creation Platform, MarTech Advisor
May 2019
Tridify BIM Tools to assist AEC professionals optimize data,
Geospatial Media and Communications
May 2019
Surgical Theater Brings a New Approach to Patient Engagement
Utilizing Augmented Reality with Magic Leap, PR Newswire
May 2019 Oculus Quest and Rift S to start shipping on May 21, GamesIndustry
May 2019
InstaVR Launches Single-Click Publishing to Oculus Quest and Rift S,
Including World-Class Touch Interactivity, PRWeb
May 2019
Pimax reveals Sword and Sword Sense VR controllers with
swappable batteries, VentureBeat
Apr 2019
Oculus Quest and Rift S ship May 21, pre-orders go live today,
TechCrunch
Apr 2019
Oculus announces a VR subscription service for enterprises,
TechCrunch
Apr 2019
AXA Hong Kong, CUHK and Oxford VR announce first-of-its-kind
mental health clinical research, cambridgenetwork.co.uk
Apr 2019
National Geographic brings VR adventures to Oculus,
researchsnipers.com
Apr 2019
Ballista is High Voltage Software’s first game for Oculus Quest,
VentureBeat
Apr 2019
Sure Ventures invests in Cambridge-based holographic software
firm, Proactive Investors
Apr 2019
AI investment to bring Peaky Blinders virtual reality game to life,
thebusinessdesk.com
Apr 2019
Immersion Brings the Power of Touch to Konica Minolta’s Latest
Electronic Office Equipment, Business Wire
Apr 2019 Supersphere Launches Audiophile Series, avnetwork.com
Apr 2019
Immersion Signs Agreement With TDK Electronics Bringing Haptics
Design and Marketing to PowerHap Piezo Actuators, Business Wire
Apr 2019
Two Bit Circus Announces “Park as a Platform” Program for Game
Developers Looking to Enter Location-Based Entertainment,
Business Wire
Apr 2019
Facebook's New Campus for Oculus Gets $515 Million of Financing,
BloombergQuint
Apr 2019
Apr 2019
Oculus Explains Why It Doesn’t Think the Time is Right for ‘Rift 2’ or
‘Rift Pro’, Road to VR
Apr 2019
YDX Corporate Update - New Partnership for Arkave VR and
Mission Genesis by YDreams Receives Recognition by Fast
Company, The Newswire
Apr 2019 MyndVR improves its VR platform for the elderly, VentureBeat
Apr 2019
Groove Jones Builds Virtual Reality Fighting Game for UFC and
Modelo, SportTechie

Recent News (2/2)
179
Virtual Reality > News > Recent News
Apr 2019
Critically Acclaimed Rhythm Action Game ‘Thumper’ is Coming to
Quest at Launch, Road to VR
Apr 2019
HoloBuilder Releases Solution to Improve Office-to-field
Communication, forconstructionpros.com
Apr 2019 Countdown to launch of VR and AR CryptoCurrency, Prolific North
Apr 2019
Cox Automotive leads $30M investment round in 3D imaging tech
provider, Auto Remarketing
Apr 2019
Facebook working on voice assistant to rival Amazon's Alexa -
CNBC, Reuters
Apr 2019 Google Tilt Brush Is Coming To Oculus Quest, VRFocus
Apr 2019
Google’s VR Painting App ‘Tilt Brush’ is Coming to Quest at Launch,
Cross-Buy with Rift, Road to VR
Apr 2019
Strivr Welcomes Renowned HR and Talent Visionary Josh Bersin to
Advisory Board, Business Wire
Apr 2019
Star Wars: Vader Immortal pushes immersive VR experience, The
Star Online
Apr 2019 Oculus staffing up for new augmented reality glasses, Pocket Gamer
Apr 2019
Huawei and VR OpenLab Partners Launch Dual-G Cloud VR
Initiative to Accelerate Cloud VR Business Innovation, WebWire
Apr 2019
Waterford-based VR developer to grow workforce by one quarter,
TechCentral Ireland
Apr 2019 YDX Innovation Corp. announces Private Placement, The Newswire
Apr 2019 Oculus Touch controllers warn of 'Big Brother', Bit-tech
Apr 2019
Immotion To Install Aquatic VR Experiences At Two US Aquariums,
VRFocus
Apr 2019
Virtuix’s Debut VR ARENA Achieves $30,000 + Revenue In First
Month, VRFocus
Apr 2019
Oculus Touch controllers have hidden messages, including Big
Brother reference. ‘Big Brother is watching’ – and maybe the
Freemasons, too…, iCrowdNewswire
Apr 2019
Some Oculus Touch Controllers Were Shipped With Hidden
Messages, Ubergizmo
Apr 2019
Oculus VR’s cross-buy strategy main goal: Facebook platform lock-
in, VentureBeat
Apr 2019
Oculus Quest & Rift S Controllers Could Hide an Unintended Easter
Egg Message Inside, Road to VR
Apr 2019
Here's our first look at the Vader Immortal VR game coming to
Oculus headsets, TechRadar
Apr 2019
PlayStation VR Version Of Seeking Dawn Officially Cancelled,
VRFocus
Apr 2019
Facebook accidentally shipped VR hardware with conspiratorial
messages hidden inside, TechCrunch
Apr 2019 Oculus put privacy-mocking jokes inside Touch controllers, Engadget
Apr 2019
OmniVirt has created 3D Photo Ads for Vice and Paramount
Pictures, Mobile Marketing Magazine
Apr 2019
InContext Solutions Extends ShopperMX into Apparel and
Footwear, GlobeNewswire

Contents
Feed Summary
Investment Trend
Key Markets
Exit Outlook
Investors
News
Appendix
180
Explore more on Tracxn Platform
Index of Top companies by Market
Funded Deadpooled Companies

Explore more on Tracxn Platform
182
Companies
Companies Covered
Unicorns
Public Companies
Acquired Companies
Funded Companies
Investment Trends
Recent Investments
Mega Investments
Investment Trend
Markets
BlueBox
Taxonomy
News
Key News
Recent News
Company Stage
Seed Funded
Early Stage (Series A/B)
Late Stage (Series C+)
Acqui-hires
Deadpooled
Investors Acquirers
Unicorn Investors
Most Active VC &PE Investors
Portfolio of Top Investor
Most Active Acquirer
Virtual Reality > Appendix > Explore Sector on Tracxn Platform

Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in Virtual Reality
Index of Top companies by Market (1/21)
183
Virtual Reality > Appendix > Index of Top companies by Market
Studios
Studios
MR content
Investors
Wevr (2010, Los Angeles, $40.3M)
Enabling developers to create and publish VR
content
HTC Corporation, Samsung Venture Investment,
Digital Garage and 17 Other Investors
TransLink Capital, Marc Benioff, KT and 9 Other
Investors
Studios
Flarb (2001, Los Angeles)
Development studio engaged in HoloLens, Mixed
Reality, AR, and VR games
Dark Corner (2015, Los Angeles)
Los Angeles based studio creating immersive VR
based horror experiences
California based studio developing VR experiences
AET Fund, Outpost Capital, Shasta Ventures and 5
Other Investors
Illogic (2010, Turin)
Develops solutions in VR/AR using proprietary
software
Studios
Immersive VR (2015, Norwich)
Norwich based studio that develops VR/AR/MR
content
Laduma (2015, Liverpool)
Liverpool based studio that develops VR/AR/MR
experiences
Opaque (2016, Melbourne)
Los Angeles based virtual reality studio
WI Harper Group
IPO Date - IPO Mcap -
- -

184
Studios
Studios
Virtual Arts (2016, Cambridge)
Cambridge-based studio that develops VR, AR, and
MR content
Delin Ventures
Cooperative Innovations (2016, Leeds,
$652k)
Provider of AR/VR development services in
multiple services
Craig Fletcher , Ascension Ventures
3R Studio (2010, Poznan)
Mobile game and app development service provider
7e Systems (2016, Auckland)
Provider of augmented/virtual reality solutions for
enterprises
Immersive Tech (2014, Vancouver)
Provider of custom escape rooms for enterprises
and VR/AR content for the same
Victory Square Technologies, New Avenue Capital
IPO Date Jul 1996 IPO Mcap -
KOSDAQ 18700

185
Live Streaming
Live Streaming
Live and on demand VR streaming for Sports and
concerts
NetEase, China Assets, Citic Guoan Information
Industry and 16 Other Investors
SLIVER.tv (2015, Cupertino, $32M)
VR platform for viewing eSports competitions
GFR Fund, Danhua Capital, Heuristic Capital
Voke (1968, Santa Clara, $25.2M)
Platform for on-demand streaming in VR
Stage: Acquired
Intel Capital, A+E Networks, Nautilus Ventures and
4 Other Investors
Live Streaming
Minicorn. Stage: Series B
Greycroft Partners, Lepe Partners, David Stern and
12 Other Investors
Reality Capture
Blue Pool Capital, EDBI, Foxconn Electronics and 14
Other Investors
Unicorn. Stage: Series D
Pariners and 1 Other Investors
Samsung Catalyst, Formation 8, Qualcomm

186
Reality Capture
Editor's Pick. Stage: Series B
Cox Automotive, New Enterprise Associates,
Presence Capital and 7 Other Investors
8i (2014, Los Angeles, $41.5M)
Time Warner, Hearst, Verizon Ventures and 23
Other Investors
Pelican Imaging (2008, Mountain View, $37M)
Computational Cameras for depth sensing
Stage: Acquired
Panasonic Venture Group, Nokia Growth Partners,
Globespan Capital Partners and 4 Other Investors
Reality Capture
Realtime Immersion (2012, San Francisco,
$10.3M)
Develops 360-Degree Live Streaming Camera
Systems
Marker, Capital Advisors, Viceroy Ventures and 2
Other Investors
Kogeto (2010, New York City, $1.9M)
- -
Zero Parallax (2015, Are, $234k)
Image capture technology for virtual reality and
industrial applications
Almi, Practica Capital
Tesseract Imaging (2013, Mumbai)
Cameras for VR imaging
Reality Capture
ImmerVision Enables (2000, Montreal)
Provider of wide-angle panoramic imaging lenses
Mistletoe
Nomoko (2015, Zurich)
Reality capture camera and software pipeline for
photorealistic 3D models
Reality Zero One (2016, London)
3D motion capture platform for applications in
VR/AR
Startup Funding Club
Stage: Acquired

187
Reality Capture
software products
Stage: Acquired
End-to-end Solutions
The Future Group (2013, Oslo, $42M)
Tools for broadcast and entertainment applications
in virtual reality
Ferd Venture, Aker ASA, Ross Video
MelodyVR (2015, London, $6.5M)
VR content production enabling VR music
experiences
Stage: Acquired
WorldViz (2002, Santa Barbara, $6.1M)
Virtual Reality visualization, simulation software,
and headsets
Intel Capital, Stout Street Capital
Live Planet (2015)
End-to-end platform for immersive VR video
creation
Processing
Dirac Research (2001, Uppsala, $18.1M)
3D audio rendering platform for VR as well as
platform-optimized sound enhancement solutions
Minicorn. Stage: Series B
Club Network Investments, Erik Ejerhed, Staffan
Persson and 4 Other Investors
Film Engine (2015, Bettembourg)
Real-time filmmaking software for VR and videos
Mint Muse (2006, San Diego)
Spatial audio technology for 3D and VR
Ximalaya

188
Modeling
Tencent, SB China Capital, Fengshang Capital and
12 Other Investors
WakingApp (2013, Rosh Haayin, $7.9M)
Cloud platform for AR/VR content creation
Globis Capital Partners, Youzu Interactive, Inimiti
Loom.ai (2016, San Francisco, $5.9M)
Platform to create avatars for applications in AR,
VR, gaming, and messaging
Danhua Capital, Dentsu Ventures, GFR Fund and 9
Other Investors
Modeling
VIAR (2015, Celje, $550k)
Developer of authoring and distribution tools for
VR/AR
Techstars
Morph 3D (2015, Salt Lake City)
Character management system for VR avatars
Neos VR (2014, Prague)
Metaverse engine for virtual reality
Sansar (2017, San Francisco)
Tools to create social VR experiences
GMETRI (2017, Bangalore)
Cloud-based XR authoring tool with analytics
toolkit
JioGenNext
Modeling
Immerse (2005, London)
VR platform to create and share VR experiences
with multiple users
Leaf Investments, IBIS Capital, Blueray Capital
Leopoly (2013, Budapest)
Software for creating content in 3D and virtual
reality
PortfoLion, GSV Labs, Andgo Partners
Minsight (2016, Paris)
Holographic platform to create AR/VR experiences
Nanome (2015, San Diego)
Molecular visualization, modeling & simulation tool
based on VR

189
Modeling
Virtual Reality Suite (2015, Dusseldorf)
B2B solution for creating VR presentations
FARO Technologies
Wonderlamp Industries (2010, Potsdam)
Virtual reality production tool for user generated
VR content
Dev Tools
Distributed simulation software for video games
and corporate sectors
Unicorn. Stage: Series C
NetEase, SoftBank Group, Horizons Ventures and
15 Other Investors
Stage: Acquired
Deutsche Telekom Capital Partners, OurCrowd,
Samsung Venture Investment and 5 Other Investors
Pixvana (2015, Seattle, $20M)
Cloud platform for AR/VR video processing
Vulcan Capital, Raine Group, Cisco Investments and
5 Other Investors
Dev Tools
GridRaster (2014, San Francisco, $3.7M)
Infrastructure layer to utilize computing power of
devices and cloud to enable VR/AR experiences
Exfinity Venture Partners, Lumia Capital, Pipeline
Capital Partners and 4 Other Investors
Visbit (2015, Sunnyvale, $3.2M)
Cloud streaming service for 360º virtual reality
videos
Presence Capital, ZhenFund, Colopl Next and 2
Other Investors
Fishbowl (2014, San Francisco, $118k)
Techstars, Right Side Capital Management, Colopl
Next

190
Dev Tools
OTOY (2010, Sherman Oaks)
Cloud platform graphics software to create 3D
rendering
Soonicorn. Stage: Series E
HBO, DiscoveryComm
VTUUR (2018, Tallinn)
On-demand, decentralized VR streaming platform
Delivery
Video
AMAZE (2016, Los Altos, $9.1M)
Virtual reality social media platform to share VR
video experiences
LG Technology Ventures
360VUZ (2016, Dubai)
360 degree video streaming application for
consumers
DSOA
Apps
Jaunt XR (2013, San Mateo, $65M)
White label software solution for cross platform
distribution of VR/AR/MR content
Editor's Pick. Stage: Series C
Disney, Evolution Media, China Media Capital
EVR Holdings (2015, London, $5.3M)
Audiovisual and interactive content for use in
virtual reality devices
IPO Date May 2016 IPO Mcap $11.3M
LON EVRH
Smart2VR (2014, Hengelo)
Virtual reality content management system
platform
VRdirect (2006, Munich)
Platform to create and publish interactive 360-
degrees and VR content

191
Browser-based VR
Own Browser Application
SuperXYZInc (2017, San Francisco, $1.1M)
Y Combinator, General Catalyst Partners, Boost VC
Display Devices
Andreessen Horowitz, Spark Capital, Matrix
Modal VR (2014, Los Angeles)
VR platform to enable large-scale experiences for
enterprises
Outpost Capital
Leonar3Do (2011, Budapest)
Integrated software and hardware platform which
transforms the traditional computers into a 3D VR
PortfoLion
Creates multi-types of VR glasses and a glass-free
stereoscopic VR tablet
- -

192
Display Devices
Smartphone-based
Head mounted display with resolution matching
human eye
Atomico, next47, EQT Ventures and 5 Other
Investors
Just VR (2014, Frankfurt Am Main)
Customizable cardboard based virtual reality
headsets
MovieMask (2016, Oslo)
Developer of VR and AR headset for consumers
nHack, TechnoRocks
Mixed Reality Headsets
Leapsy (2017, Taipei, $2.2M)
AR/MR based headsets for multi-industry purposes
HKLA Studio (2015, Los Angeles)
Standalone wireless headset capable of both VR and
AR
ArchiFiction (2016, Los Angeles)
Automatic space recognition system for gear-free
MR
Tisiwi Ventures
HoloLens (2016, Settle)
Mixed reality headsets for both consumer and
enterprise purposes
Input
JPMorgan, Founders Fund, Highland Capital
Bank and 8 Other Investors
uSens (2013, San Jose, $30M)
Provides inside-out 3D hand tracking as well as
head position tracking
Fosun Kinzon Capital, Maison Capital, Shenzhen
Dongfang Fuhai Investment Management and 9
Other Investors

193
Input
Motorola Solutions, JAZZ Venture Partners, NHN
Investment and 3 Other Investors
Virtuix Omni (2013, Austin, $17.6M)
Virtual reality interface for moving freely and
naturally during a game
Scout Ventures, Western Technology Investment,
Tekton Ventures and 5 Other Investors
NetEase, Dawn Patrol Ventures
Input
Nod (2013, Mountain View, $16M)
Gesture recognition and motion tracking hardware
Atlantic Bridge Capital, PointGuard Ventures,
Walden International and 5 Other Investors
Crunchfish (2010, Stockholm, $10.5M)
Touchless gesture recognizing software for
computer interaction
IPO Date Nov 2016 IPO Mcap -
STO CFISH
Neurable (2015, Pasadena, $7.9M)
Brain Computer Interface software solutions
Zell Lurie Commercialization Fund, Zell Lurie
Institute, Brian Shin and 7 Other Investors
Input
BinaryVR (2015, San Francisco, $6.2M)
Facial expression tracking & replication in VR
avatar
Atinum Investment, kt Investment, Pearl Abyss and
5 Other Investors
Xenoma (2015, Tokyo, $3.5M)
Garment with embedded sensors
UTokyo Innovation Platform, JST, Beyond Next
Ventures
Fluidity Technologies (2016, Houston, $2.3M)
Patented joystick fostering movement in physical
and virtual worlds
Machina (2011, Mexico City, $233k)
Clothing with embedded sensors
Rothenberg Ventures, Wayra

194
Input
3dRudder business (2017, Aix-en-provence)
Developer of foot-based motion controller for 3D
and VR
Cybershoes (2015, Vienna)
Private label brand of VR shoes
Emteq (2015, Brighton)
Developing emotion-sensing hardware and
software wearable technology for use in AR/VR
Frontgrid (2014, Llanfairfechan)
Develops adventure leisure and virtual reality
attractions
Bathgate Business Finance
KAI (2017, Vellore)
Wearable device that detects hand gestures
Input
Manus VR (2014, Eindhoven)
Develops consumer glove for virtual reality
Startupbootcamp
Plexus (2015, London)
Developer of haptic feedback gloves for applications
in AR/VR
Y Combinator
Remoria (2016, Rome)
Immersive VR controller for mobile devices
Sony Depthsensing (2007, Brussels)
Solution provider of 3D vision and gesture
recognition
TelepathEye (2010, San Francisco)
Carousel-based interface to track eye-gaze
Input
Virtual Motion Labs (2014, Dallas)
Develops wearable hand gloves for interaction in
virtual reality
VTouch (2017, Seoul)
Touch interface for remote controlling of devices
CyberGlove Systems (1990, California)
Hand-centric hardware and software solutions, for
VR interactions
Stage: Acquired

195
Output
3D Sound Labs (2014, Cesson, $1.2M)
Provides 3D audio software and hardware to
enable immersive audio
ISource Gestion, Paris Business Angels, Finistere
Ventures
Immotion (2017, Manchester, $699k)
Location based virtual reality simulators and CMS
to manage it
IPO Date Jul 2018 IPO Mcap $27.5M
LON IMMO
IPO Date Nov 1999 IPO Mcap -
NASDAQ IMMR
Free Roam Solutions
MassVR (2010, Skokie)
Chicago based indoor, free-roam, multiplayer
virtual reality gaming center
HMD Accessories
Immersive Robotics (2015, Brisbane)
Wireless solution for PC VR headsets

196
Chips & Sensors
Tracking
Sierra Ventures, Qualcomm Ventures, Artiman
Triad Semiconductor (2002, Winston-salem,
$23.8M)
ASIC company making chips for sensor arrays used
in SteamVR tracking
Eastward Capital Partners, Partners For Growth
Image Processing
deep-learning
Summit Bridge Capital, ARCH Venture Partners,
Atlantic Bridge Capital and 10 Other Investors
Ad Networks
Flo VR (2016, Toronto)
Developer of virtual reality focused ad network for
brands and advertisers
Victory Square Technologies
Vertebrae (2015, Santa Monica)
Virtual reality interactive ads creation platform

197
Ad Exchanges
Adverty (2016, Stockholm, $570k)
VR platform for monetizing content through non-
intrusive native advertising
Daniel Daboczy, Pontus Dahlström
Ad Enablers
Cognitive3D (2015, Vancouver)
Provider of VR analytics platform
Super Ventures
RVEALR (2017, Brooklyn)
AI-based automated analytics and social platform
for AR/MR/VR content
VadR (2016, Delhi)
Virtual reality analytics platform
Editor's Pick. Stage: Acqui-Hired
Alchemist Accelerator
Applications
Virtual Reality for neuro-rehabilitation
Unicorn. Stage: Series A
Hinduja Group, Venture Kick, Blue Sea Ventures and
1 Other Investors
Marc Benioff, Gates Frontier, Khosla Ventures and 8
Other Investors
FundamentalVR (2012, London, $2.6M)
VR/MR based training, simulation and education
for the medical and communications markets
Tern, Founders Factory

198
Applications
Platforms for orthopedic simulation in VR/MR/AR
AO Invest
Embodied Labs (2016, Los Angeles)
VR tool for empathy-focused education of geriatric
care
Karuna Labs (2016, San Francisco)
VR for neurorahabilitation and pain management
Anorak Ventures, Plug and Play Tech Center
Loop Reality (2016, Hyderabad)
VR environment for indoor fitness training
MediSolutions (1981, Hasbrouck Heights)
VR platform for patient education and support
Neuro Rehab VR (2017, Fort Worth)
VR platform for neurological physical therapy
Oncomfort (2015, Houston)
VR based Anxiety and Stress Management Tool
reVIVE (2017, Scottsdale)
Virtual reality solution for ADHD diagnosis and
treatment
SoccerDream (2016, Barcelona)
VR platform for football IQ training
Virti (2017, San Mateo)
VR/AR based medical training platform
NHS Innovation Accelerator
WebAthletics (2010, Utrecht)
VR platform for proving an immersive fitness
training environment

199
Applications
Oxford VR (2017, London, $4.2M)
Provider of VR-based mental health treatments
Oxford Sciences Innovation, University of Oxford,
Force Over Mass Capital and 1 Other Investors
MINDA LABS (2017, Chicago, $20k)
VR simulations to address sexism and bias at
workplace
Play Labs
XVR Simulation (2000, Delft)
Develops VR simulation software for training &
simulation
Newion Investments
AerX Labs (2015, Bangalore)
Aviation simulators and training providers
BeingVR (2018, Perth)
Developer of VR workplace training experiences for
enterprises
Healium (2015, Missouri City)
Developer of biometrically-controlled platform for
combating stress
Revinax (2015, Montpellier)
VR/MR based training solutions for enterprise
applications
Trackir (2001, Paris)
Head tracking input device for applications in
gaming and simulations
Veative (2016, Noida)
Virtual reality based device and edutainment
content provider
UNICEF Innovation Fund
VIVED (2007, Coralville)
Provider of 3D, AR, and VR educational content for
STEM learning
VR platform for showcasing training content in an
immersive environment
IPO Date Mar 2018 IPO Mcap $29M
LON VRE
VR-Star (2017, Turin)
VR software for training in industrial processes

200
Applications
IrisVR (2014, New York City, $10.2M)
Virtual reality-based tools for the AEC industry
Emergence Capital, Indicator Ventures, Pritzker
Group and 9 Other Investors
SmartVizX (2014, Noida, $2M)
VR based solutions for business
YourNest, Indian Angel Network, Manoj Aheeray
BIM Holoview (2017, Cambridge)
Developer of software for the non-residential
construction industry
Macunx (2016, Cambridge)
VR platform for building memory palaces
VIMaec (2016, Peachtree City)
VR based solutions for the AEC industry
Retail
Stage 1 Ventures, Detroit Venture Partners, Beck
Besecker and 2 Other Investors
Avenue Planet (2011, Miami)
Platform for virtual reality enabled shopping and
curated immersive experiences
Cimmerse (2016, Copenhagen)
Web-based platform for product visualization in
virtual reality/augmented reality
Weed Virtual Retail (2017, Toronto)
Developer of VR cannabis dispensary to virtually
touch and smell weed products
Editor's Pick. Stage: Acquired

201
Applications
Retail
Developer of high-end interaction devices,
hardware and software components for industries
IPO Date Jan 2016 IPO Mcap -
EPA ALIMR
Automotive
ZeroLight (2012, Newcastle Upon Tyne)
Software for 3D visualizations of automotive retail
products
Northstar Ventures, Plug and Play Tech Center,
Prime Ventures
Entertainment
$68.1M)
IPO Date Oct 2017 IPO Mcap $65.5M
NASDAQ SMSH
Zero Latency (2014, Melbourne, $8M)
Free-roam Virtual Reality developer, operator,
licensor
Carthona Capital, Thorney Investment Group,
Contango Asset Management and 2 Other Investors
Arena Space (2016, Moscow, $7.7M)
Theme parks for virtual reality entertainment
Rucard
Virtual Sting (2016, Richmond Hill)
VR arcades located in Ontario in Richmond Hill,
Scarborough, and Oshawa

202
Applications
Entertainment
VR Territory (2016, Los Angeles)
VR arcade located in Los Angeles, Canada, and
Florida
IPO Date Jan 2009 IPO Mcap $1.7M
CVE YDX
Social
5 Other Investors
- -
Unit040 (2006, Eindhoven)
Digital twin platform to simulate machines for early
feedback and error detection
AmeVRica (2017, Burlington)
Cross-platform open source blockchain-based
virtual world
Social
Decentraland (2014, Buenos Aires)
VR world with a blockchain based in-built economy.
Suicide Ventures, Digital Currency Group, CMCC
Global
Immersed VR (2017, Austin)
VR workplace for professional collaboration
Sovereign's Capital
VRLively (2015, Ghaziabad)
Platform enabling video conferencing in virtual
reality

203
Applications
Enterprise
GreatPoint Ventures, National Football League,
Signia Venture Partners and 3 Other Investors
Virtualitics (2016, Pasadena, $14.4M)
Platform for data visualization in virtual reality
Centricus, Venture Reality Fund
Beyond Sports (2014, Alkmaar, $2.4M)
Provides VR-based simulation for soccer matches
David Blitzer, Seth Bernstein, Alan Goldfarb and 6
Other Investors
Enterprise
Mindesk (2015, San Francisco, $1.6M)
3D CAD visualization and modeling in VR
Vive, Invitalia Ventures, Barcamper and 2 Other
Investors
MiHiepa (2017, Manchester)
Football VR equipment developer

Funded Deadpooled Companies
204
Virtual Reality > Appendix > Funded Deadpooled Companies
Funding Company Location
$10.5M Immersv San Francisco
$7.5M Envelop VR Seattle
$5.6M Wearality Mountain View
$3.7M Galigu VR Tel Aviv
$2M Vrideo Los Angeles
$261k Hardlight VR Seattle
$150k Vear Kochi
$120k ConstructVR San Francisco
$100k VRTV (WayGate) San Francisco
$20k VRUnion Prague
$15k Floor Show VR Dallas
$11.2k Unbound VR Buenos Aires
Holor Media Santa Monica
V-Kaiwa Sydney
Bouncy Newport Beach
Vicarious San Francisco
V Los Angeles
InGlove Tbilisi
Visual-wise London
Panorics New York City
Funding Company Location
bThere Fairfax
Vzillion Atlanta
Index of Deadpooled companies in Virtual Reality
1. Excludes all details for Chinese companies. 2. View all 227 Deadpooled companies on Tracxn Platform

Isma Rizvi
Manager - Sector Specialist
Sambuddha Roy
Sector Specialist
Team
205
For research queries write to us at myanalyst@tracxn.com

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.
Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Private Limited including but not limited to the
information contained herein ("Data") is the sole property of Tracxn Technologies Private Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or sell the
Data or any portion thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion thereof; to any
other party, except with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data into analysis, presentations
or tools for your customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information.
For further information please refer to our Terms of Use at www.tracxn.com

Tracxn - Virtual Reality Startup Landscape

More Related Content

Similar to Tracxn - Virtual Reality Startup Landscape (20)

More from Tracxn (20)

Recently uploaded (20)

Tracxn - Virtual Reality Startup Landscape