Glue Collaboration, a Helsinki-based company developing remote collaboration tools for AR/VR, today announced that it has completed a new seed round of financing, raising a total of €3.5 million (~$3.85 million) to support continued growth of its business-focused social VR platform.
The investment was led by Maki.vc, an early-stage venture capital fund focusing on Nordic companies. Other investors included Reaktor Innovations, Bragiel Brothers and Foobar Technologies. Business Finland, the Finnish funding agency for technology and innovation, and OP Bank also provided funding for the development of Glue.
Maki.vc also previously invested in Glue back in March 2018, although the seed round’s sum wasn’t publicly disclosed.
Glue CEO Jussi Havu maintains the funding positions the company to “accelerate the commercial phase of our growth and help organizations do business in a more productive and sustainable way.”
Glue emphasizes its platform’s ability to reduce a company’s travel budget and consequently cut its carbon footprint; instead of lengthy flights and hotel stays, users would connect via Glue’s cloud-based VR/AR collaboration platform, which offers fully-customizable virtual environments, 3D spatialized-audio and toolkit including things such as post-it notes, whiteboards and freehand 3D drawing tools to let users quickly hash out ideas.
Moreover, the company says its platform has been specifically designed to “meet the security, privacy, reliability and availability standards of the most demanding global enterprise users.”
At the time of this writing, Glue’s platform supports HTC Vive, Oculus Rift, Oculus Quest, Windows VR headsets, Valve Index, as well as desktop and mobile.
Founded in 2017 by Santtu Parikka and Juha Ruistola, who serve as Glue’s CDO and CTO, the company has since grown to a 30-person team, including software engineers, designers and business developers.