Hologate Closes Series A Funding Round to Embark on Global Expansion
(eap) Munich-based VR systems & content developer Hologate (founded in 2013 by entrepreneur Leif Arne Petersen) has closed a Series A funding round of 8.3 million Euros. Bolero Holdings and Vester Partners support the ambitious global growth targets of the company as new investors, providing venture capital in addition to further funding from existing investors and partners (including Cherry Ventures).
Hologate will focus on further growth especially in the European and North American markets for XR (extended reality) applications that the company is developing for both the entertainment and industrial sectors. In 2020, Hologate founded the HGXR division for simulation and training solutions that simulate hyper-realistic scenarios and are now used by organizations such as the Fraunhofer Institute, police units and the German Army.
In the entertainment sector, which Hologate served immediately when it started back in 2013 to make VR technology accessible to a broad target group in the form of games, the provider now counts over 450 LBE locations in 42 countries. In the FLAIR shopping centre in Fürth (Bavaria), which opened at the end of 2021, a number of different VR and XR applications from the company can be experienced in the Hologate World, including the free-roam full-body-tracking system “Hologate X” (read also our cover story “Next-Level Experiences by Hologate” in EAP 1/2022). The game content is partly based on well-known IP brands such as Angry Birds or Ghostbusters.
Founder and CEO Leif Arne Petersen comments, “This investment is a huge milestone for our company, made possible through the support of our new investors, Bolero Holdings and Vester Partners, as well as our existing investors, Cherry Ventures. Securing this financing is a testament to the strength of our vision and the incredible value our partners see in Hologate. This investment will propel us towards ambitious goals in this era of spatial computing, play a vital role in our plans for strategic hiring, explore new markets, innovate with new products and ultimately supercharge our growth. My thanks go out to our investors and also to the extraordinary and dedicated Hologate team that made this possible.” ■
