Munich-based VR and AR startup Innoactive is receiving €4.4 million in fresh capital. The money will be used to invest in its technology and team.
Unternehmertum Venture Capital Partners and Capnamic Ventures are investing a total of €4.4 million in the Munich-based startup Innoactive. The company has been developing virtual reality and augmented reality solutions for the automotive, aerospace, pharmaceutical, and retail industries since 2015. Users can use the software, among other things, to transfer meetings and discussions into virtual reality—regardless of the participants' physical location. The startup's customers include Volkswagen, MediaMarktSaturn, Deutsche Bahn, and Continental.
Innoactive wants to expand its team
Daniel Seidl, Founder and CEO, says:
"Especially in the areas of production and logistics, the significant savings potential offered by virtual reality is driving enormous demand for VR training content. With our Innoactive Hub platform, we offer an exciting solution with low barriers to entry for faster creation of training content, increased efficiency, and company-wide rollout."
With the fresh capital, the Munich-based startup plans to expand its technology and product development and grow its development team. The company also aims to advance its international sales.
