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Varjo

Extended Reality
Military Tech
Next-gen Displays
Product stageSegments
Growth
?
Hardware manufacturers
?

Varjo is a Finnish developer of mixed reality hardware and software solutions for enterprises, with use cases such as design and engineering, research, medical, and training and simulation.

The company’s product portfolio, compatible with Unity’s Unreal Engine, OpenXR 1.0, and other professional 3D software, including Autodesk VRED and FlightSafety Vital includes the following:

- The Varjo XR-4 mixed reality headset series, launched in November 2023. The XR-4 Focal Edition (priced at EUR 9,990 or ~USD 10,930) claims to be the first headset that allows gaze-directed autofocus mixed reality pass-through features, which mimic the behavior of the human eye. The standard XR-4 headset is priced at USD 3,990 while the XR-4 Secure Edition (with enhanced safety features for government clients) is priced at EUR 7,990 (~USD 8,740). Notable features available across the series include the use of dual 4K x 4K displays providing a resolution of 51 pixels per degree (PPD), a 120° x 105° field of view (FOV), 20 Mpx cameras with LiDAR resolution, and 3D spatial audio.

- The Varjo Aero (launched in October 2021) priced at USD 890, focuses on flight, driving sim capabilities and gaming purposes. Notable features include a per-eye resolution of 2,880 x 2,720 (31 PPD) via mini-LED displays, a 134° x 115° FOV, and support for eye-tracking. In January 2024, the company stated that its webstore inventory of the headset was permanently sold out, but that it would continue to support Aero till the end of 2025.

- The Varjo XR-3 (launched in December 2020) is priced at USD 5,995. Key features include a 115° FOV, with a screen resolution of 70 pixels per degree, depth awareness with LiDAR and stereo RGB video pass-through, and inside-out tracking, alongside integrated Ultraleap hand-tracking features.

Its software solutions include Teleport VR (powered by Varjo Reality Cloud platform focusing on virtual work) and Varjo subscriptions for XR-3 (priced at EUR 1,495 or ~USD 1,640 per year) and VR-3 (priced at EUR 795 or ~USD 870) that give users access to new features, performance improvement updates, commercial software licenses, and business support.

In January 2022, Varjo launched cloud streaming capabilities to Reality Cloud, which enables users to deploy virtual applications and experiences they create directly from the cloud and stream them to Varjo headsets, and later announced support for Unity and Unreal Engine-based projects (November 2022).

Key customers and partnerships

Notable clients include Boeing, Volvo, Audi, Rivian, and Siemens.

As of February 2022, Varjo had a distribution network of more than 35 retailers, including GameStop in North America and others across Europe, Asia Pacific, and the Middle East. It also launched sales and direct shipping to markets, including Singapore, Israel, South Korea, Australia, and New Zealand.

Notable recent partnerships in 2023 included the following:

- BAE Systems: To develop Project OdySSEy, a unified synthetic environment for future military training, allowing air, land, sea, space, and cyber forces to train together in a virtual setting (September 2023)

- NVIDIA: To support its Omniverse and Open Universal Scene Description (OpenUSD) interoperability initiatives, providing developers with ray-tracing tools (August 2023)

- US Department of Defense, US Army: To supply its MR headsets for military training (August 2023)

Funding and financials

Varjo’s most recent funding came in September 2022, when it raised USD 40 million in a Series D funding round. The fresh funds were allocated toward R&D for its headsets and cloud service and to expand both software and hardware offerings to new enterprise verticals.

Extended Reality

Extended Reality

Key stats
Featured companies
236
Total funding (USD)
13.5 Bn
Total addressable market (USD)
100.4 Bn
Key competitors
 
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Company profile
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EDGE Insights

XR and MEP (Q4 2023): XR GenAI adoption accelerates alongside funding rebound
XR and MEP (Q3 2023): Product improvements continue despite stagnant funding
XR and MEP (Q2 2023): Apple's Vision Pro fuels XR's cautious comeback as metaverse plummets
Next-gen displays: Illuminating new possibilities
XR and MEP (Q1 2023): From virtual promise to metaverse hesitation
The Extended Reality journey: Are we there yet?

Recent Updates

Product updates
Nov 27, 2023
Varjo launches enterprise-focused XR-4 mixed reality headset for USD 3,990
Extended Reality
Product updates
Sep 20, 2023
Varjo reduces Aero VR headset price by 50% to USD 990
Extended Reality
Partnerships
Sep 19, 2023
Varjo partners with BAE Systems for Project OdySSEy
Extended Reality
Partnerships
Aug 29, 2023
Varjo to supply headsets for US Army's RVCT-A initiative
Extended Reality
Partnerships
Aug 16, 2023
Varjo partners with Vertex Solutions for MR flight training for US Department of Defense
Extended Reality
Partnerships
Aug 9, 2023
Varjo partners with NVIDIA for cloud-based industrial XR solutions
Extended Reality

Company Brief


HQ location:
Vuorikatu 20 Helsinki FIN
Founded year:
2016
Employees:
101-250
Total Funding:
USD 165.8 million
Last Funding
USD 3.3 million, Apr 2023

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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