VIVE X, HTC VIVE’s early stage investment program, continues to aggressively lead investments in the virtual and augmented reality (VR/AR) space, announcing that it has nearly doubled the value of its investments over the last four years. Founded in 2016, VIVE X is the most active investor in the VR/AR market, with more than 100 deals across six locations globally. The program announced seven new investments in the space as it looks to continue this trajectory. Exhibiting even more forward momentum, 17 companies from the Vive X portfolio have also received additional outside funding in the past year.
Read More: Gartner Identifies The Top Five Customer Service Technology Trends For 2020
One focus area of VIVE X today is on enterprise software that can continue to not only improve processes, training and collaboration in the workplace, but also the overall XR experience. From increased employee engagement with the content to tangible ROI, VR is transforming the workplace. The enterprise segment of VR is forecasted to grow from $829 million in 2018 to $4.26 billion in 2023 (39% CAGR), according to ARtillery Intelligence.
“We work closely with our portfolio companies to help them operationally, and we see them not only weathering the economic storm but thriving,” said Marc Metis, Vice President, HTC Vive. “We will continue to invest aggressively, especially in the area of enterprise XR, where we are able to add considerable value as a leading player with deep market experience.”
Read More: AppSmart Expands Leadership Team To Drive Next Phase Of Growth