VRtuoso secures £500,000 in seed funding
UK-based virtual reality presentation startup VRtuoso has announced that it has secured £500,000 in seed funding to bolster its research and development operation and to expand its availability across Europe and North America.
Symvan Capital Limited led the funding round with Compagnia Bresciana Investimenti S.p.a.
End-users in any enterprise can use VRtuoso to transform the way they train and develop talent. No experience or technical expertise is required to deliver a VR presentation in a matter of minutes. Users can create, deliver and adapt presentations adding in 360° and two-dimensional content, like video, PowerPoint slides and text. Learning and development teams can guide their audience and control what is viewed on all VR headsets in real time.
VR promises to give 100% engagement and over 80% retention in a training environment, with analysts predicting the market will be worth $6.3billion by 2022.
Francesco Furnari, Founder & CEO, VRtuoso, said: "We are delighted to welcome this round of funding as we continue to scale internationally. Enterprises that embrace VR see incredible results with our easy-to-use and cost-effective learning product. As a unique offering within the market, we expect our growth to continue as we build out our sales and marketing footprint."
Tancredi Pisa Simonini Spada, CEO, Compagnia Bresciana Investimenti, said, "The market for VR based enterprise training is set to explode in the next three years. By tackling the major hurdles to adoption with a plug and play solution at a fraction of the cost of other less compelling offerings, VRtuoso has the opportunity to dominate the market."
The startup also has offices in Italy and the U.S.