Despite Some Potholes, Immersive Technologies Getting Ready to Hit Its Stride

by Michael Inouye | 3Q 2020 | IN-5921
The month of August 2020 was relatively busy for Virtual Reality (VR) and immersive technologies. The COVID-19 pandemic has continued to rock the Location-Based Entertainment (LBE) segment and, in August, pushed Sandbox VR to file for bankruptcy protection, but elsewhere the market is experiencing renewed interest and expectations are correspondingly looking up. Facebook began showing more of its upcoming social VR platform, Horizon, and launched a private beta. Spaces made news earlier in the year, when the company abandoned the LBE market in favor of immersive collaboration, and was recently acquired by Apple. On the hardware front, Varjo announced US$54 million in Series C funding (with total funding around US$100 million including US$8.2 from the Series A round, US$6.7 from Tekes, and US$31 from Series B). Each of these point to different aspects of VR and immersive technology’s future, but the road ahead still has potholes and speedbumps.

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