# Varjo Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/varjo-technologies

- Industry: Hardware
- Headquarters: Helsinki, Finland
- Website: www.varjo.com/
- Total disclosed funding: $134M
- Latest round: Series D (Nov 26, 2024)
- Investors on record: 18

## About

Based in Finland, Varjo Technologies Oy produces high-immersion virtual and mixed reality headsets designed for professional applications across various industries, showcasing advanced visual fidelity and technology.Varjo Technologies Oy specializes in virtual and mixed reality solutions and was founded in 2016 by its CPO Urho Konttori, CDO Roope Rainisto, CTO Klaus Melakari, CXO Niko Eiden in Helsinki, Finland. In October 2025, Varjo Technologies Oy received EUR 12 million of grant funding from new investor Business Finland Venture Capital. Varjo specializes in high-immersion virtual and mixed reality (VR/XR) headsets, primarily designed for professional use across various industries. Its flagship product, the Varjo XR-4 series, launched recently, offers unparalleled visual fidelity and a wide field of view, specifically tailored for applications such as training astronauts, pilots, and nuclear power plant operators, as well as design processes in automotive and aerospace sectors. The XR-4 features advanced technology such as a gaze-driven autofocus camera system that mimics human eye behavior, making it suitable for mission-critical tasks. Varjo's client base includes over 25% of Fortune 100 companies, indicating strong demand from sectors like defense, healthcare, education, and industrial goods. The geographical markets for Varjo's products span across North America, Europe, and Asia, addressing the needs of high-performance XR applications in various professional settings. The company focuses on B2B transactions through direct sales of its flagship XR-4 series and associated software solutions, which include tailored integration services and ongoing customer support. Varjo also offers subscription-based access to its suite of software tools, enhancing collaboration and system efficiency for its clients, reflecting its premium positioning in the market. The company will use the October 2025 funding to develop next-generation mixed reality training systems for defense and aviation programs, improve product features and security, and support global demand while keeping core R&D in Finland.

## Funding rounds

- Series D, Nov 26, 2024 — Beyond Capital, NVIDIA Corporation, Nishikawa Communications Co. Ltd.
- Series D, Sep 6, 2022, $40M — EQT, Tesi, Volvo Group Venture Capital, Atomico, Lifeline Ventures, Foxconn Technology Group, Mirabaud Asset Management, Swisscanto
- Series D, Mar 31, 2022 — Swisscanto
- Series C, Aug 12, 2020, $54M — EQT, Tesi, Volvo Group Venture Capital, Atomico, Lifeline Ventures, NordicNinja VC, Swisscanto
- Series B, Oct 7, 2018, $31M — EQT, N47, Atomico, Lifeline Ventures
- Series A, Aug 10, 2017, $8.2M — EQT, Lifeline Ventures, Presence Capital, Sisu Game Ventures, The Venture Reality Fund, Bragiel Brothers, Foobar Technologies I ApS

## Investors

- EQT (https://capitalatlas.ai/funds/eqt) — Series A, Series B, Series C, Series D
- Lifeline Ventures (https://capitalatlas.ai/funds/lifeline-ventures) — Series A, Series B, Series C, Series D
- Presence Capital (https://capitalatlas.ai/funds/presence-capital) — Series A
- Sisu Game Ventures (https://capitalatlas.ai/funds/sisu-game-ventures) — Series A
- The Venture Reality Fund (https://capitalatlas.ai/funds/the-venture-reality-fund) — Series A
- Bragiel Brothers (https://capitalatlas.ai/funds/bragiel-brothers) — Series A
- Foobar Technologies I ApS — Series A
- N47 (https://capitalatlas.ai/funds/n47) — Series B
- Atomico (https://capitalatlas.ai/funds/atomico) — Series B, Series C, Series D
- Tesi (https://capitalatlas.ai/funds/tesi) — Series C, Series D
- Volvo Group Venture Capital (https://capitalatlas.ai/funds/volvo-group-venture-capital) — Series C, Series D
- NordicNinja VC (https://capitalatlas.ai/funds/nordicninja-vc) — Series C
- Swisscanto (https://capitalatlas.ai/funds/swisscanto) — Series C, Series D
- Foxconn Technology Group — Series D
- Mirabaud Asset Management (https://capitalatlas.ai/funds/mirabaud-asset-management) — Series D
- Beyond Capital — Series D
- NVIDIA Corporation — Series D
- Nishikawa Communications Co. Ltd. — Series D