Munich-based HOLOGATE, a media company that specialises in extended reality (XR) solutions for entertainment and enterprise, announced on Thursday that it has secured €8.3M in a Series A round of funding.
The company says the funding will help in international expansion, namely in Europe and North America, as well as for new product development.
Investors in this round
The investment was co-led by new investors Bolero Holdings and Vester Partners, with participation from existing investors, including European early-stage VC firm Cherry Ventures.
Cherry Ventures is an early-stage venture capital firm based in Berlin, and supports ambitious founders across Europe. It has investments in over 100 companies, including FlixBus, Auto1 Group, and Flaschenpost.
Filip Dames, Founding Partner of Cherry Ventures, says, “When we first teamed up with Leif, Hologate was setting out — and succeeding — on an entertainment-focused vision for their XR.”
“Now, with their ability to replicate everything from the visualisations to the interactions of real-life scenarios, Hologate is helping, to start, law enforcement professionals train in intense environments with fewer resources, less risk, and greater effect,” adds Dames.
Making extended reality (XR) accessible to everyone
Founded in 2013 by Leif Petersen, Jan Ottens and Robert Fankhänel, HOLOGATE claims to be a pioneer in extended reality (XR) solutions, operating the world’s largest location-based VR network in 42 countries and over 450 locations.
It has captivated over 18 million players with immersive entertainment products and blockbuster IPs such as Ghostbusters and Angry Birds.
In 2020, HOLOGATE introduced HGXR, an enterprise-focused division offering VR training and simulation solutions, leveraging their XR expertise. Studies highlight the positive impact of VR training leading to improved focus, skill acquisition, and confidence.
HGXR has gained the trust of organisations like the German Army and police forces, Fraunhofer Institute, and MBDA.
The company’s XR solutions offer hyper-realistic training scenarios in safe virtual environments, making learning-by-doing effective for professionals in high-risk situations. The compact and mobile turnkey solutions are customisable to each customer’s needs.
HOLOGATE says it will use the funds for growth in entertainment and enterprise solutions. They will focus on expanding the global market presence of their HGXR training and simulation solutions in Europe and North America.
The funding will also support product development and hiring, strengthening the company’s capabilities. HOLOGATE aims to leverage AI for realistic interactions with virtual humans, driving innovation.
Leif Petersen says, “This investment is a huge milestone for our company, made possible through the support of our new investors, Bolero Holdings and Vester Partners, as well as our existing investors, Cherry Ventures.”
“This investment will propel us towards ambitious goals in this era of spatial computing, play a vital role in our plans for strategic hiring, explore new markets, innovate with new products and ultimately supercharge our growth,” adds Petersen.