Intel Capital, the corporate venturing arm of chipmaker Intel, and growth capital firm Beringea co-led a $15.2m funding round for US-based virtual reality technology developer InContext Solutions on Monday.
InContext has built an enterprise VR platform called ShopperMX that helps product manufacturer and retailers simulate in-store environments to test merchandising and displays. It formed a partnership with Intel last month to collaborate on VR hardware and software for the retail industry.
The round brought the total debt and equity financing disclosed by InContext to almost $40m since 2009, including $1.5m from semiconductor maker AMD and Hyde Park Angels in 2011.
Beringea, Plymouth Venture Partners and Hyde Park Venture Partners provided $12m in series D funding in 2014, after the company had closed $6.4m in funding earlier in the year, according to a regulatory filing.
Doug Fisher, general manager of Intel’s Software and Services group, said: “InContext Solutions has already had significant impact on virtual reality for the retail and manufacturing industries.
“We are excited to see how virtual reality solutions based on Intel architecture, such as InContext’s, are poised to transform industries in more immersive, interactive ways.”
– Image courtesy of InContext Solutions