Deeptech
Q1 202411.03.2024

Extended Reality

Picture of Shubham Jaipuria

Shubham Jaipuria

at Sifted

European extended reality startups had a subdued 2023, raising $686m — a sharp decrease from the $1.4bn disbursed in 2022. Four mega-rounds of $100m+ in 2022, compared to none the following year was the difference maker. In the first two months of 2024, European startups pulled in $191m — already a quarter of the sum the sector raised in 2023.

While the tech is still too pricey for the mass market (Apple’s Vision Pro is priced at $3,499, for example), it has overarching use cases for business customers. Whether it’s Helsinki-based Varjo’s VR headsets for training astronauts and pilots, or London-based XYZ Reality’s AR tech for construction workers to visualise buildings, XR's use cases are attracting cash and eyeballs. Funding may not be landing at quite the pace European startups would have hoped for, but some prominent exits, and the continent’s obsession with being the creator of Web4, are sources of inspiration for early-stage startups.

20 most promising early-stage startups

  • Virtex logo

    Sifted score

    8.08
    -

    Virtex

    Virtual esports platform for engagement

    • Strong investor(s)
    • Serial founder(s)
    • Year founded

      2020

    • HQ

      London, United Kingdom

    • Latest round

      Angel
      2.9m / May 2022

    • Total funding

      4.7m

  • Pixaera logo

    Sifted score

    7.93
    -

    Pixaera

    Virtual reality training for hazardous tasks.

    • Strong investor(s)
    • Serial founder(s)
    • Year founded

      2020

    • HQ

      London, United Kingdom

    • Latest round

      Seed
      5.7m / Oct 2022

    • Total funding

      5.7m

  • XYZ Reality logo

    Sifted score

    7.68
    -

    XYZ Reality

    3D modeling for accurate construction.

    • Strong investor(s)
    • Hiring
    • Year founded

      2017

    • HQ

      London, United Kingdom

    • Latest round

      Series A
      24.6m / Jun 2021

    • Total funding

      43m

  • Anything World logo

    Sifted score

    7.53
    -

    Anything World

    Streamlining 3D design with innovation.

    • Year founded

      2019

    • HQ

      London, United Kingdom

    • Latest round

      Seed
      6.5m / Nov 2022

    • Total funding

      9m

  • Move.ai logo

    Sifted score

    7.4
    -

    Move.ai

    AI-driven markerless motion capture technology

    • Serial founder(s)
    • Hiring
    • Year founded

      2019

    • HQ

      London, United Kingdom

    • Latest round

      Seed
      9.1m / Oct 2023

    • Total funding

      13.7m

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