Spatial raises $14m for AR_VR collaboration platform

Mark manages all of the content for VRWorldTech. To discuss an idea or pitch a story, drop him a line at editor@vrworldtech.com

Spatial is the developer of a platform aimed at enterprise that allows colleagues to collaborate in VR and AR across a range of devices

Quick read

➨ The round brings New York-based Spatial’s total amount raised to $22 million

➨ White Star Capital, iNovia and Kakao Ventures led the funding round

➨ Spatial’s customers include Mattel, Purina/Nestle and BNP Paribas

The story

Spatial, the developer of a platform aimed at enterprise that allows colleagues to collaborate in VR and AR across a range of devices, has raised $14 million in funding.

The round, which brings New York-based Spatial’s total amount raised to $22 million, was led by White Star Capital, iNovia and Kakao Ventures.

Instagram co-founder Mike Krieger and Zynga founder Mark Pincus also invested in Spatial, with existing investors including Lerer Hippeau, Leaders Fund and Samsung NEXT.

Spatial’s AR/VR collaboration platform is device agnostic, meaning that anyone with a Microsoft HoloLens, Oculus Quest, Magic Leap One, Qualcomm XR2, Android/iPhone mobile device or desktop computer can work together.

Spatial generates realistic avatars through an AI that transforms a user’s 2D photo into a realistic 3D avatar with no extra effort required and brought to life with hand and eye tracking found on modern headsets.

Last year saw a strong demand to collaborate in AR/VR from more than 25% of the Fortune 1,000, according to Spatial co-founder and chief executive officer Anand Agarawala. Its first wave of customers included Mattel, Purina/Nestle and BNP Paribas.

Co-founder Jinha Lee added: “With this funding we’re excited to carry on this tremendous momentum and continue to innovate our user experience until every organisation around the world can work together seamlessly without the need to travel.”

Commenting on the potential of the Spatial platform, Krieger said: “Spatial’s mixed-reality solution will be a key part of the future of work. They’re taking us beyond everyday tools like Zoom and Slack and pointing the way towards what conferencing and collaboration can be like if they were invented today and I’m excited to support the journey.”

Image: Spatial