Hololight, a provider of augmented and virtual reality (AR/VR) solutions for the enterprise market, has this week announced that it has secured a further USD $12 million in funding to accelerate the development of its XR streaming platform, Hololight Hub.
The funding round was led by European growth equity firm Flatz Hoffmann, with other key contributors including existing investors EnBW New Ventures, Bayern Kapital, and Future Energy Ventures. Following on from the company’s Series A investment in December 2021, the new USD $12 million investment brings the company’s total investment funding to USD $27 million.
Hololight provides an enterprise streaming platform for immersive applications including virtual and augmented reality (collectively referred to as XR) that allows for the global availability and easy deployment of XR applications. The company’s Hololight Hub solution for enterprises helps businesses and organizations to improve their industrial processes in product development, manufacturing, training, or service through the implementation of XR infrastructures.
Hololight stated that the new investment will help to grow and expand its Hololight Hub XR streaming platform, as well as enable the company to accelerate the onboarding of customers across its key verticals automotive, aerospace, mechanical engineering and many more.
According to Hololight, XR streaming solves major challenges surrounding industrial applications and addresses the unique computing, data, and security challenges of these environments. Hololight stated that it has spent years perfecting its proprietary streaming technology, which is now the backbone of its enterprise-grade streaming platform, Hololight Hub. The platform allows for the streaming of AR or VR applications across local servers and the cloud.
Commenting on the funding announcement, Hololight CEO Florian Haspinger said: “As the pioneers of enterprise XR streaming, it is our vision to stream any XR app on Hololight Hub to help enterprises break down the barriers to capitalizing on immersive technologies. XR streaming is helping these companies to achieve improved data security, infrastructure flexibility, high-fidelity XR experiences, and global availability across their XR initiatives – all in a highly cost effective way.”
Marc Umber, Head of Investment Team at EnBW New Ventures, added: “We believe that this strong team and its groundbreaking technology have already begun to change the way we work in the future when it comes to industrial design, construction, engineering, services and quality assurance. The team has created something truly spectacular for industrial use cases. With the increasing penetration of next-generation mobile networks, XR streaming will also change the way we interact with our environment in our daily lives.”
Hololight stated that it currently serves more than 150 customers, including major accounts such as BMW, Nokia, and Engie, as well as a number of global aerospace and defense clients. The company is also a partner to companies such as Amazon Web Services, Qualcomm, Nvidia, and Verizon, amongst others.
For more information on Hololight and its Hololight Hub XR streaming platform, please visit the company’s website.
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Image credit: Hololight
