Swedish Position tracking company Univrses raises $700,000.
The Swedish VR scene is growing at a rapid pace. In early August, we reported that the virtual reality (VR) studio Svrvive raised $1.8 million(article in Swedish) from the Lundin family.
Now, the Linköping-based Univrses is also having a growth spurt. Univrses develops position tracking technology for mobile VR. Using the camera and sensors on a smartphone, Univrses software is able to detect how a player is moving in the real, physical space, and then mirror that movement in the virtual world.
The goal is to eliminate the motion sickness often caused by moving in the virtual world without moving in the physical world. The user can also set up the operating limitations of the room, which are then represented in the virtual world.
Univrses has been relatively secretive when it comes to how the product works, and it is not clear from their website how they plan to make money on the idea. The most obvious customers would be game developers who want to integrate Univrses software in their games.
In the long term, the company might be bought out by a hardware producer like Samsung or Google. Those type of hardware companies might be interested in software that allows them to set a standard for all apps offered in their VR platforms, Gear VR and Daydream, respectively.
Breakit has now received information that the Univrses has had a small equity round of $700,000 based on their valuation of $2.8 million. $200,000 of that sum has already been paid in advance, and is now set off in equities.
The investors are mostly existing owners, along with a couple of new private investors, which means that the $2.8 million valuation can be taken with a grain of salt.
Founders Ricky Helgesson and Fredrik Fjellstedt are among the owners, as are Finnish seed investor Reaktor Ventures and Malmö entrepreneur Toni Nijm, who is also Chairman of the 3D graphics company Simplygon.
Univrses reported no net sales for the 2015 fiscal year.
Univrses has not responded to Breakit’s requests for a comment.
Photos by Emelie Almhager and Martin Bergström.