Together they will change humanity

Earlier this year, the CEO told Langmyhr at he was preparing to raise new capital. The optimism was great after more and more customers had taken an interest in the platform where you can meet each other in virtual reality and collaborate on, for example, 3D models.

The company had also landed an important partnership with the collaboration tool Tribia in the construction industry, in order to gain further momentum among the target group where they have been the largest so far.

– With the things that have now happened, we hope and believe that we have proven enough to get a big investment round. Then we will have more freedom to do what we want, and not just what we have to do, said Langmyhr, who founded Dimension10 together with Christer-Andre Fagerslett i 2014.

Now the journey has taken a new turn, and the Finnish VR pioneer Varjo now announces that they are buying Dimension10 for an unknown large amount.

Technology breakthrough

The company is a world leader in the production of VR headsets, and is backed by, among others, EQT and Atomico. Skype founder Niklas Zennström is also on the board of Varjo.

At the same time as Varjo buys the Norwegian VR company, they release the news of a major technology breakthrough – with their new Varjo Reality Cloud. The Finns have developed an algorithm that reportedly compresses live video in a new and groundbreaking way. This allows users to stream large VR files in the cloud without the need for a PC, using only the VR headset. To those who have seen the TV series Silicon Valley, this may sound recognizable, so here fiction has become reality.

Norwegians central

The acquisition of Norwegian Dimension10 is at the core of the new investment. Because when Varjo launches the service in the cloud, Aleksander Langemyhr and the team will deliver the software that will visualize it all.

With the new headsets from Varjo, you can scan the rooms you are in, make a 3D model of it, and then invite people virtually into your physical surroundings. Varjo calls it “virtual teleportation”.

– We believe Varjo’s vision for the metauniverse will change humanity more than any other technology in the next decade, says Tim Toikkanen, CEO of Varjo, in a modest message released on Thursday.

– Varjo Reality Cloud will detach the physical reality from the laws of physics. The programmed world that once only existed on our screens can now merge with our own surroundings – and forever change the choreography of our lives, he adds.

Center for VR

Dimension10 is thus the platform for the actual interaction in the meeting, or to use some of Varjo’s words: Where the choreography takes place.

– They have been looking for the best platform they could find to collaborate in VR. They found us. It is great that we now get recognition for the work we have done to develop this technology, says Aleksander Langmyhr.

With the acquisition, Dimension10 will have access to far more resources than they have had so far. While they have so far been the largest in VR collaboration in construction, the platform will now be used in a much wider range – and eventually also by ordinary consumers.

– This is very visionary. For us, it is great fun to be part of this investment, which can make Scandinavia a hub for VR.

The assessments

The settlement takes place in Varjo shares. Both Langemyhr and the rest of the team will continue.

In assessing whether it was right to go for an acquisition or continue for oneself, there are many considerations that have come into play. It has been relevant to make more issues, and thus get capital for further growth on your own. Gradually, however, it became clearer and clearer that Varjo could be a good home for Dimension10.

– We had a great dialogue from start to finish, and it is a very exciting place to end up for the employees. Investors are also happy, says Langemyhr.

Before its time

The founder also admits that there has been no dancing on roses to develop VR software in a market that is still somewhat premature.

– We have been doing this for a while now, and what we have made is very good, but there are many other things that need to be in place, which we have no control over. For our solution to be able to shine and create value in society, there must be an infrastructure there, ie more VR headsets. We see that it will not happen tomorrow. So instead of fighting this battle on our own, we go along with someone who has insanely much more resources than us, but who shares a lot of our thoughts.

– So you have been ahead of your time?

– Yes, I want to say it, but I have no doubt that VR will be big. This will be the next big computer platform, but we also said that four years ago. Our product is great, but the timing is that we have been out very early.

– Has this meant that it has also been difficult to raise money?

Both and. Some rounds have been super easy, while others have been difficult. It is not to be underestimated that it is easier for companies with high turnover to raise money. It has been our Achilles’ heel when we sell software licenses for machines and infrastructure that are not very widespread. But if you look at the earnings we have per VR headset, we have some crazy numbers.