Innoactive, a Germany-based virtual reality (VR) engine developer founded by a Technical University of Munich (TUM) graduate, raised €4.4m ($5.2m) on Monday in a round led by an affiliate of Unternehmertum, TUM’s tech transfer office. Unternehmertum Venture Capital Partners was joined in the round by venture capital firm Capnamic Ventures. Innoactive does not appear to have disclosed funding previously, though it did participate in accelerator Boost VC in 2015. Founded in 2015, Innoactive has created an engine and content management platform that facilitates development of enterprise VR and augmented reality (AR) software for sectors such as automotive, aerospace, pharmaceuticals, logistics and retail. The technology is geared towards occupational tasks such as communication and collaboration. Innoactive will use the funding to recruit additional developers to help drive technology and product development as it looks to expand in international markets. The company is planning to upgrade its development kit to help clients easily create VR training applications. Daniel Seidl, founder and chief executive of Innoactive, who completed his bachelor’s and master’s degrees at TUM, said: “Particularly in the areas of production and logistics, the great savings potential offered by VR leads to enormous demand for VR training content.”
Innoactive visualises $5.2m round
Jun 6, 2018 •
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