Houlihan Lokey Advises Varjo

Houlihan Lokey is pleased to announce that Varjo has raised $40 million in Series D funding. Backed by EQT Ventures, Atomico, Volvo, Lifeline Ventures, and new strategic investors Mirabaud and Foxconn, the new capital will enable Varjo to build a true-to-life industrial metaverse for all professionals.

Varjo, the industry-leading provider of professional-grade virtual reality (VR) and extended reality (XR) hardware and software, will use the funds for its research and development cloud services, namely Varjo Reality Cloud, the company’s XR streaming platform. The new capital will help the company continue to scale its software and hardware offerings across new enterprise verticals, such as design and manufacturing, engineering, education, and healthcare. As an industry leader in professional-grade VR and XR, the company is committed to continuing to develop the world’s most advanced hardware and services.

Varjo’s revolutionary hardware and software allow users to see and experience virtual and augmented content just as clearly as they see the analog world around them.

Today, 25% of Fortune 100 companies use Varjo’s VR/XR hardware and software, delivering a return on investment in multiples to the world’s biggest companies, such as Volvo Cars, Lockheed Martin, Boeing, Aston Martin, Kia, and various departments across the United States and European governments.

Houlihan Lokey served as the exclusive financial advisor to Varjo, highlighting the firm’s expertise in the technology sector.