Gemba, a software developer providing virtual reality training to corporates, raised $18 million in a Series A round led by Parkway Venture Capital. The deal values the business at $60 million.
The fresh funds will foster a growth push in EMEA and expansion in North America, a company release said.
The company, which counts Nike, Carlsberg and AstraZeneca among its clients, provides live, ‘life-like’ training experiences via VR headsets. The tech is currently only compatible with Meta’s Quest VR headset but it plans to expand to other popular devices, the company told TechCrunch.
It is currently a costly affair to put on a masterclass through Gemba, with lessons coming in at around $7,250 per program. Enterprise subscriptions start at $120,000 for a 50-person team per year and can eat around $1.2 million at a larger scale.
The raise is the latest example of cash pouring into the development of VR technologies. Throughout last year, a number of funds were created to back this kind of tech, including through global bank HSBC, investment management firm Invesco, chip maker Qualcomm and metaverse faithful Animoca Brands.
As it tries to justify its audacious play in AR and VR tech, Facebook parent Meta has made a case for VR having a useful application in the workplace – including training initiatives such as Gemba’s, online lectures and VR meetings.
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