June 25, 2020 – Vive X, HTC Vive’s early-stage investment program, has today announced that it has nearly doubled the value of its investments in the virtual and augmented reality (VR/AR) space over the last four years, and that the program is adding seven new investments in the space as it looks to continue invest aggressively in the VR/AR space.
Founded in 2016, Vive X has made more than 100 deals in the VR/AR market across six locations globally. In addition to the seven new investments, 17 companies from the Vive X portfolio have also received additional outside funding in the past year.
The early-stage investment program has focused on enterprise XR software solutions, XR user experience, and unique technologies in VR, AR, AI, and 5G. However, HTC stated that one area of focus for the company at the moment is on enterprise software that can continue to not only improve processes, training and collaboration in the workplace, but also the overall XR experience.
Marc Metis, Vice President, HTC Vive, commented: “We work closely with our portfolio companies to help them operationally, and we see them not only weathering the economic storm but thriving”. He added, “We will continue to invest aggressively, especially in the area of enterprise XR, where we are able to add considerable value as a leading player with deep market experience.”
The company noted that its Vive X portfolio companies are also starting to see a wave of further funding from outside sources as the XR market continues to mature. According to HTC, in total, 17 Vive X companies have raised over USD $60M in additional funding in the past year. The largest rounds of additional funding were raised by Proprio and Talespin in the healthcare and enterprise training segments. Other success stories from the Vive X program include Mindesk, a real-time VR CAD collaboration platform, which was recently acquired by Vection Technologies Ltd.
The seven new companies that Vive X has invested in since November include:
- 3Data Analytics offers a 3D platform for IT & Cybersecurity Operations. Through the power of WebXR, Artificial Intelligence, and IoT, 3Data Analytics fuses multiple real-time data streams and cross-correlates alerts, logs, and raw sensor data into a Virtual Operations Center allowing remote IT teams to more efficiently detect and respond to threats, reduce downtime and mitigate risk all in a single, collaborative 3D space;
- BodySwaps is a complete soft skills training solution for corporate and education organizations that combines behavioral science, data and immersive VR simulations to create deep and lasting behavioral change;
- Imaged Reality developed 3DGAIA, an enterprise VR platform for the oil Industry that helps to reduce risk and uncertainty by bringing the field to the office. It enables immersive learning and remote collaboration, connecting expertise across the globe;
- Maze Theory is the developer behind immersive VR experiences like Doctor Who: The Edge of Time and Peaky Blinders, The King’s Ransom, and creates narrative experiences centered on active participation;
- ORamaVR builds intelligent VR training simulations for healthcare education and assessment. By applying principles of neuroscience, spatial computing and machine learning, ORamaVR is focused on the rapid acceleration of human learning in medicine. The company has developed a proprietary software development kit for high-speed, scalable prototyping;
- Talespin is building a spatial computing platform to power talent development and skills alignment for the future of work. Founded in 2015, the company leverages its proprietary XR technology platform Runway to deliver XR-based learning and training applications, mixed reality field tools to support employee job performance, and to advance the collection and alignment of skills data;
- VantagePoint is actively developing a platform and products to train people on EQ-driven (emotional intelligence) Soft Skills that matter. Vantage Point tackles enterprise training around important topics such as Diversity, Equity and Inclusion, and Workplace Anti-Sexual Harassment training.
Vive X states that its mission is to help cultivate, foster and grow the global VR/AR ecosystem by supporting startups and providing them with operational expertise and funding. The early-stage investments program recently changed its operating model to more frequent investments over the course of the year, instead of a batch format. With a flexible structure not centered around rigidly scheduled batches, Vive X’s aim is to be more agile and invest in the right deals when they are available.
Image credit: HTC Vive