Inflight VR has closed its largest equity financing round to date, resulting in an overall total of over €4 million funds secured.
The funds are intended to support further roll outs with multiple clients across different industries and use cases and to generate valuable data about content performance, user behaviour and business models.
Existing shareholders, including venture capital firms Motu Ventures and CBC Investments, were joined by Stefan Lauer, a former Executive Board Member of Lufthansa and Dr. Carsten Berrar, Partner at Sullivan & Cromwell, in raising the funds.
Inflight VR has also appointed Matthias Walther, previously at Panasonic Avionics, as chief marketing officer.
“We believe in the tremendous opportunities VR provides for companies such as airlines or bus operators who push the envelope of their customers’ travel experience. From the beginning, we focused on a multi-dimensional ROI for our customers seeing VR as a business solution,” said Moritz Engler, co-founder and chief executive officer of Inflight VR.
Engler added: “Our role is two-fold: First, we are educating customers about the benefits of VR and then we deliver. We make today’s most emerging technology work. Our thorough approach addresses all technical, commercial, logistic, usability and rights management aspects to make this a seamless way for customers to amaze their passengers and build a closer relationship to their brand.”