In Virtual Reality News
November 30, 2023 – Vrgineers, a provider of next-generation virtual and mixed reality (VR/MR) pilot training systems, has this week announced that it has received an investment of USD $6 million in Series A funding, which the company stated will help to accelerate its growth.
Vrgineers stated that with the newly acquired funding, it is planning to expand its product portfolio, which will include the announcement of a new version of its XTAL virtual reality headset (pictured above) later this year. Additionally, Vrgineers will seek to secure growth in new markets.
The investment round, led by Taiwania Capital, included participation from existing investors, including Nation 1, which increased its share by $500,000. Vrgineers stated that the financial backing is a testament to the company’s vision and shared commitment to “driving transformative change within the technological industry.” Vrgineers also noted that it is the first company in the Czech Republic to receive investment from Taiwania Capital.
“We are impressed by how Vrgineers integrated the most advanced VR/MR headsets with cutting-edge flight simulation software to deliver uniquely positioned pilot training simulators,” said Mitch Yang, Managing Partner of CEE Fund at Taiwania Capital. “The Vrgineers’ systems offer a fully immersive training experience with improved quality that is also very cost-effective. We look forward to working closely with Vrgineers and to connect them with Taiwan’s aerospace industry as they enter a phase of rapid growth.”
Although its primary application is for aviation, Vrgineers’ technology has the potential for use across various industries where training for heavy equipment operation is required. The company’s XTAL device comes with an extreme 180° field of view (FoV) made up of two 4K resolution displays, and can be used in combination with physical simulator setups for enhanced immersion and realism.
Also commenting on the announcement, Vrgineers CEO Marek Polcak, said: “We are proud and feel honored that Taiwania has chosen to invest strategically in our company. This investment is not just about the necessary funds to boost our activities and products, but it also brings a great deal of overlap. This strategic investment has connected us with the leaders in the electronics development and manufacturing industry. With this connection, we can now improve our technology to the highest level possible.”
For more information on Vrgineers and its XTAL virtual and mixed reality headset, along with its pilot training solutions, please visit the company’s website.
Image credit: Vrgineers
About the author
Sam Sprigg
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.
