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Virtual, augmented or mixed reality?
This time there is no event review in the podcast, but Appointment information. So let's quickly get into our main topic (starting at minute 2:00). Virtual reality (VR), augmented reality (AR), and mixed reality (XR) – all of these terms refer to immersive technologies. Augmented reality apps augment reality with additional information. For example, if you point the camera of a smartphone or VR headset at a specific area in the room, additional digital information such as explanations, 3D objects, or videos are displayed on the screen.
The global market potential for this industry is estimated at well over $100 billion. Technologies such as 5G, cloud computing, and edge computing are particularly promising for the future of the field. However, there are still some challenges to overcome, which we explore in more detail in the podcast. Startups are working on solutions and are already increasingly bringing immersive technologies into wider society and companies.
Where we can experience virtual reality
The industry is very well positioned in Munich, so our Insights Dashboard Around 40 startups from this sector. As is often the case, the state capital demonstrates its strength in its focus on corporate customers. In addition to startups, there are also support offers for (young) XR companies: For example, the 'XR Hub Bavaria‚ since 2019 as the first contact and information point for the entire XR ecosystem in Bavaria.
In the podcast, we will first introduce you to startups that also focus on B2C customers before we look at B2B startups with immersive technologies.
Munich residents already have several options where they can take trips into virtual reality using immersive technologies. Timeride and Hologate are perhaps the best known. But there are some Munich-based startups with more specialized offerings. For example, the startup founded in 2019 Granny Vision In particular, seniors are offered virtual visits to family events, in addition to virtual reality trips to the beach and orchestral performances (starting at minute 6:15). While the need for this became particularly apparent during the coronavirus pandemic, sales became more challenging for the founding team, Carolina and Daniel Bendlin. Nevertheless, Granny Vision was able to convince an investor through Venture Base Camp and received six-figure funding at the end of 2020.
Take off with immersive technologies
Also experiencing challenging times In-flight VRStarting at minute 9:40, we talk about the startup, founded in 2014, which originally focused on virtual experiences for the travel industry. Due to the pandemic, the VR startup expanded its offerings. Now, the 15-person team is bringing cultural experiences to the table. Firstrow directly into their living rooms. Customers can, for example, order a VR theater performance, including rental VR headsets, to be delivered to their homes for a few days. Also new to the portfolio is VR WorksHere, Inflight VR's focus is shifting to the B2B sector and virtual reality for sales, training, etc. Since these two new segments are performing well, Inflight VR sees great potential here for the future.
The Munich startup Icaros In turn, Icaros focuses on the athletically active target group (from minute 14:20). The VR startup, founded by Johannes Scholl and Michael Schmidt, lets you fly over the Alps or explore underwater worlds on a specially developed fitness device. Since its founding in 2015, the now 30-person team has expanded its portfolio to include a special exercise bike, an immersive motorcycle simulator, a platform for competitive virtual e-sports, and much more. In addition to Europe, Icaros also has a strong presence in North America and Asia.
Virtual reality for industry
Starting at minute 18:40, we introduce you to three Munich-based startups with a pure B2B focus. Founded in 2015, Holo-Light specializes in immersive software and technologies for businesses, capable of streaming complex content in real time. This supports companies, for example, in planning work processes in production or in prototyping.
The focus is particularly on augmented reality ReflectFounded in 2012 by Wolfgang Stelzle and Kerim Ispir, the startup transforms company design data into interactive 2D and 3D visualizations. It also offers a remote maintenance tool that allows employees to easily troubleshoot even complex machines themselves thanks to step-by-step instructions using AR. Starting at minute 21:35, we talk about the successful startup, which, with just under 50 employees from Munich and San Francisco, has convinced many global players of the benefits of immersive technologies.
In 2018, Reflekt also produced VRdirect a spinoff focused on virtual reality (minute 26:15). The solution enables 360-degree images or films to be prepared for VR-enabled headsets, smartphones, and web browsers. The startup, founded by Rolf Illenberger, has 20 employees. VRdirect secured its first funding in 2019 and is benefiting from the fact that companies are increasingly using virtual reality solutions in sales and marketing due to the pandemic.
Roadsurfer and the VC firm Heartcore Capital
In the second part of the podcast (from minute 30:10) we talk about the startup Roadsurfer, its 24 million Euro financing and one of the investors in the round. The Munich-based company, founded in 2016 by Susanne and Markus Dickhardt together with co-founder Christoph Niemann, sells and rents camper vans. The travel startup has also launched 'Roadsurfer Spots', a platform through which users can book individual camping spots in Germany and Austria. We also introduce you to Heartcore Capital. The VC is based in Copenhagen, but also has offices in Paris and Berlin, as well as in the USA, and has recently focused on consumer technology. The investment firm is currently in Munich. Kaia Health and Finn Auto, as well as Jenavalve, founded in 2006. They currently also have a unicorn in their portfolio: Getyourguide from Berlin.
