Innoactive, the enterprise-focused VR/AR software company, announced it’s completed a successful funding round of €4.4 million (~$5.15 million USD). The lead investor is Unternehmertum Venture Capital Partners (UVC Partners), and is joined by Capnamic Ventures.
Founded in 2015, Innoactive has provided VR/AR software solutions across industries such as automotive, aerospace, pharmaceutical and retail, including their software platform, Innoactive Hub, which is currently serving as a training platform for 10,000 employees at Volkswagen. The company has also worked with MediaMarktSaturn, Carl Zeiss, Deutsche Bahn, Audi and Continental to name a few.
Innoactive focuses on a few key content areas with its SDK, including logistics, simulation and training, and has created its Innoactive Hub platform to act as a company’s social VR space for long distance training and collaboration—or whatever the particular company styles it to be, as Innoactive SDK boasts the ability to for businesses to create entire training programs without writing a single line of code.
“Particularly in the areas of production and logistics, the great savings potential offered by virtual reality leads to enormous demand for VR training content. With our Innoactive Hub platform we offer an exciting solution with low entry barriers to create training content faster, use it more efficiently and roll it out company wide,” explains Daniel Seidl, founder and CEO of Innoactive.
The company says the investment will be used for “technology and product development as well as for expanding international sales and enlarging the development team. On the product side, the Innoactive SDK will be equipped with additional functions that enable customers and partners to create VR training applications quickly and easily.”