Varjo, maker of high-end enterprise XR headsets, this week introduced it has raised a $40 million Sequence D funding to proceed constructing its Varjo Actuality Cloud software program and ship a “true-to-life industrial metaverse.”

Varjo makes a number of the highest-end enterprise XR headsets available on the market, together with distinctive software program options, claiming just lately that one quarter of Fortune 100 firms have used used its tech.

This week the corporate introduced it has raised $40 million in a Sequence D funding. Members within the spherical embrace returning traders EQT Ventures, Atomico, Volvo Automotive Tech Fund, and Lifeline Ventures, and new traders Mirabaud and Foxconn​, the latter being one of many world’s largest electronics producers and a possible strategic associate for Varjo.

The main investor within the spherical was not made clear. The increase brings Varjo’s complete funding to $162.5 million since 2017, in keeping with Crunchbase, and represents a down-round in comparison with the corporate’s Sequence C funding of $54 million in 2020.

“Our new funding is a testomony to the unbelievable progress Varjo has seen over the previous few years as curiosity for enterprise XR adoption grows,” mentioned Timo Toikkanen, Varjo CEO. “The imaginative and prescient for a true-to-life metaverse for professionals is already right here, and we’re proud to be the primary and solely firm on the planet to proceed to ship human-eye decision digital and blended actuality know-how to the most important and most iconic enterprises on the planet.”

The so-called “metaverse for professionals” isn’t clearly outlined by the corporate although it ostensibly refers to Varjo Actuality Cloud, the corporate’s cloud-based XR streaming tech which goals to streamline using XR inside giant organizations. The corporate plans to develop the platform to a wider vary of {hardware} and software program, together with headsets aside from its personal. Take a look at our unique preview of Varjo Actuality Cloud earlier this yr.

Alongside the funding announcement Varjo additionally named a brand new Chief Product Officer, Patrick Wyatt, who is alleged to be main the corporate’s software program and cloud tasks.

Past its enterprise ambitions, Varjo additionally just lately dipped a toe into the prosumer house with the launch of its high-end Aero VR headset which, for the primary time, may very well be purchased by normal customers with none sort of month-to-month charge. The corporate’s Sequence D funding announcement didn’t supply any hints about the way forward for the Aero, however Varjo advised us earlier this yr that there’s a good likelihood of an eventual follow-up to the headset.