This week, Vrgineers, a vehicle and flight MR simulation solutions provider for professional training procedures, acquired a grand total of roughly $6 million in a series A investment round to fuel company and product portfolio growth.
Moreover, alongside the $6 million series A funding, the move enables Vrgineers to grow via the development of its XTAL headset, which is due in late 2023. According to the firm, this new headset will allow Vrgineers to expand into new markets, allowing vrgineers to reach their full potential and have a “positive impact” on industry partners.
Taiwania Capital led the investment round and secured the capital, which the firm states is in a shared commitment to drive transformative change within the technological industry.
Mitch Yang, a Managing Partner of CEE Fund at Taiwania Capital, added:
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. The Vrgineers’ systems offer a fully immersive training experience with improved quality that is also very cost-effective. Although its first application is for aviation, the company’s technology could be used in industries where training for heavy equipment operation is essential. This is our first investment in the Czech Republic. We look forward to working closely with Vrgineers and to connect them with Taiwan’s aerospace industry as they enter the phase of rapid growth.
Marek Polcak, the CEO of Vrgineers, also noted that “we are proud and feel honoured that Taiwania has chosen to invest strategically in our company.” Polcak pointed out that the Taiwania Capital investment not only provides Vrgineers with “the necessary funds to boost our activities and products, but it also brings a great deal of overlap.”
The CEO also added:
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.
Moreover, Marek Moravec, Managing Partner of Nation 1, expressed his confidence in the success of Vrgineers and other companies in their portfolio. Meanwhile, he assured that Vrgineers are fully committed to supporting partners and companies in growth plans by providing the necessary XR resources, solutions, and hardware that ensure simulation procedure success. Moravec also notes that the firm aims to help companies and customers achieve their full potential and positively impact their respective industries.
More on Vrgineers
The vehicle and flight simulation market is a big one for XR. From Varjo to Vrgineers, the space has rich solution providers that help operators handle specialist vehicles like military places or a forklift.
Vrgineers works in deep relationships with technology partners to help stand out from its current marketplace competition. For example, earlier this year, German firm Advanced Real-Time Tracking (ART), specializing in infrared all-in-one hardware, teamed up with Vrgineers to advance MR cockpit simulators.
At the time, Polcak explained that the firm was “continuously working on removing the technological challenges of modern simulators.”
The executive from the Prague company cited issues such as the distance between the front-facing camera and a user’s eyes. To tackle this problem, the company plans to develop advanced algorithms for motion compensation to reduce shifts in virtual and physical scenes, making experiences more realistic.
The executive also mentioned that the SMARTTRACK3/M, a durable and compact device optimized for use in cockpits, can be integrated into training simulations to enhance convenience during daily usage.
