Vive X, the accelerator formed by consumer electronics manufacturer HTC, presented an overview of the current investment landscape for virtual reality (VR), augmented reality (AR) and adjacent technologies on the second day of the 2019 GCV Symposium.
Dave Haynes, director of Vive X Europe, acquainted the audience with the accelerator, which claims to be the most active investor in VR space. It primarily commits capital to software developers but has some hardware-based companies in its portfolio, most of which are at the early stages of development.
Haynes explained that Vive X’s investment thesis is currently oriented around AR and VR as well as 5G telecommunications, artificial intelligence (AI) and blockchain technologies that are expected to enhance the systems.
In terms of trends in the VR and AR space, Haynes told attendees the technology was reaching an inflection point in which VR headsets are approaching the mainstream and mass adoption, and one of the emerging businesses today will likely become the next ‘killer app’.
In addition to gaming, the potential of VR technologies can also stretch to enterprise purposes, and Haynes noted that it is where the investment focus has been in Europe, as companies developing such products tend to be revenue-generating, solving real-world problems for industries and helping them reduce costs.
Haynes’ presentation was followed by nine companies curated by Vive X and VRVCA (Virtual Reality Venture Capital Alliance) pitching to investors in the audience. The companies included VR streaming platform developer Liv and Kagenova, which has created software that turns any VR into a realistic, 360-degree experience.
Other products pitched in the session included Immersive Factory, which facilitates training sessions to prevent injuries among industrial and construction workers; Primitive, a VR collaboration platform for software developers; YBVR, an immersive broadcasting technology for live sports events; and Gravity Sketch, VR-based collaborative software that helps designers bring ideas to life in 3D.
The list was filled out by Atomongate, a platform enabling volumetric pixel art to be created in high-end video games and other 3D applications; FundamentalVR, a surgery simulation software system; and Admix, a monetisation platform for advertisers in VR and AR.