HP moves into VR and AR with investment in Venture Reality Fund
One of the world’s oldest technology companies is investing in the Virtual Reality market by becoming an investor in The Venture Reality Fund.
HP Tech Ventures which is a new corporate venture arm of HP have recently joined the VR Fund as an investor. HP Tech Ventures have become one of the most active investors in Augmented Reality, VR and Mixed Reality start-ups.
According to the article released this week the VR Fund will be providing HP with early access to leading AR, VR and MR technologies with commercial applications in HP’s target markets which include office, retail, health care, manufacturing and education. This investment means that the VR Fund in turn will benefit from HP’s product portfolio and reach.
In a statement from Marco DeMiroz, Cofounder and General Partner of The VR Fund said “HP has a rich history of delivering innovative technology and was an early believer in the vast potential for mix reality to transform consumer and commercial markets. We are excited to have HP Tech Ventures as a key investor in our fund and look forward to working closely with their team to introduce new applications for corporate innovation and productivity, while enhancing the customer experience and product development.”
In 2016 Venture capital investments in AR and VR reached £1.8 billion and according to the article Goldman Sachs estimates this market to reach $80 billion by 2025. VR Fund is part of HP’s growing network of partners developing next generation Mixed Reality applications, head-mounted displays and mobile solutions and services.