Munich-headquartered HOLOGATE, a prominent media enterprise specializing in extended reality (XR) solutions for both entertainment and enterprise sectors, revealed the successful completion of a Series A funding round, securing a total of $9 million.
The secured funding is earmarked to support the company’s global expansion endeavors, particularly in the regions of Europe and North America. Additionally, a portion will be allocated for the advancement of new product initiatives.
About the Investors
The infusion of funds was jointly led by Bolero Holdings and Vester Partners, both new investors, along with the participation of existing investors such as the European early-stage VC firm, Cherry Ventures.
Cherry Ventures, headquartered in Berlin, operates as an early-stage venture capital entity and champions enterprising founders throughout Europe. With a diversified portfolio spanning over 100 companies, including notable names like FlixBus, Auto1 Group, and Flaschenpost.
Filip Dames, Founding Partner of Cherry Ventures, expresses, “From the outset of our collaboration with Leif, Hologate was pursuing and attaining success in their entertainment-oriented XR vision.”
“Today, leveraging their capability to replicate every aspect of real-life scenarios, from visualizations to interactions, Hologate is making a significant impact. They are enabling law enforcement professionals to train in high-pressure environments, while minimizing resource consumption, mitigating risks, and achieving heightened effectiveness,” adds Dames.
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Enabling Universal Access to Extended Reality (XR)
Established in 2013 by Leif Petersen, Jan Ottens, and Robert Fankhänel, HOLOGATE proudly asserts itself as a trailblazer in extended reality (XR) solutions. With a presence spanning 42 countries and over 450 locations, it holds the distinction of operating the world’s largest location-based VR network.
Their immersive entertainment offerings, featuring blockbuster IPs such as Ghostbusters and Angry Birds, have enraptured over 18 million players.
In the year 2020, HOLOGATE introduced HGXR, a dedicated enterprise division focused on delivering VR training and simulation solutions, leveraging their extensive XR expertise. Studies consistently underline the constructive outcomes of VR training, resulting in heightened focus, skill proficiency, and increased self-assurance.
HGXR has garnered trust from esteemed organizations including the German Army, police forces, Fraunhofer Institute, and MBDA.
The company’s XR solutions craft hyper-realistic training scenarios within secure virtual domains, rendering learning-by-doing remarkably effective for professionals facing high-risk situations. The portable and versatile turnkey solutions can be tailored to each customer’s unique requisites.
Funding Usage
The secured funds will serve as a catalyst for HOLOGATE’s expansion efforts within both entertainment and enterprise domains. The primary objective is to amplify the worldwide market reach of their HGXR training and simulation solutions, with a strategic focus on Europe and North America.
In addition, the funding will play a pivotal role in fostering product innovation and personnel recruitment, bolstering the company’s overall proficiency. HOLOGATE is dedicated to harnessing the potential of AI to facilitate lifelike interactions with virtual individuals, thereby propelling innovation to new heights.
Leif Petersen expresses, “This investment stands as a significant landmark for our organization, made achievable through the invaluable backing of our fresh investors, Bolero Holdings and Vester Partners, alongside our steadfast existing partner, Cherry Ventures.”
He continues, “The infusion of funds is poised to propel us toward audacious objectives during this era of spatial computing. It will play a pivotal role in our strategic recruitment initiatives, facilitate exploration of novel markets, fuel innovation in new product offerings, and ultimately accelerate our exponential growth,” Petersen elaborates.
