What is Virnect?
Virnect specializes in developing augmented reality (AR) solutions tailored for industrial worksites. The company adopts a client-centric approach, analyzing specific challenges faced by its industrial partners to deliver advanced and necessary AR innovations. By focusing on the practical application of AR technology, Virnect aims to enhance operational efficiency and problem-solving within complex industrial environments.
How much funding has Virnect raised?
Virnect has raised a total of $30M across 1 funding round:
Series B
$30M
Series B (2022): $30M with participation from KB Investment, Lotte Ventures, STIC Ventures, KTB Network, Hanwha Group, and KDB Investment
Key Investors in Virnect
KB Investment
KB Investment is a venture capital firm based in Seoul, South Korea, established in 1990, focusing on investments in companies with innovative technology, services, and entrepreneurship.
Lotte Ventures
Lotte Ventures is a corporate venture capital arm of the Lotte Group, dedicated to nurturing and investing in innovative startups to foster growth within the group's ecosystem.
STIC Ventures
STIC Ventures, established in 2018 as the venture investment division of STIC Investments, aims to be a leading venture capital manager in Asia, investing in promising companies to drive economic growth.
What's next for Virnect?
With a substantial enterprise-level funding injection, Virnect is poised for accelerated growth and technological advancement. The recent strategic investment signals strong confidence from backers in the company's vision and its capacity to scale its AR solutions across the industrial landscape. This capital infusion will likely support product development, market penetration, and the expansion of its client base, solidifying Virnect's position as a key player in industrial AR.
See full Virnect company page
