Investment and growth in virtual and augmented reality technology continues to accelerate thanks to growing demand in the entertainment and enterprise markets, according to a report from a leading venture capital firm that specializes in the space.
The Venture Reality Fund makes the claim in its VR industry landscape report for the second half of 2017, highlighting a range of industry numbers covering 450 companies that are developing infrastructure, tools, platforms and applications for the VR ecosystem.
“Already topping $2.3 billion this year, global investment in VR and AR is tracking higher than any previous period, and at a more accelerated pace,” Tipatat Chennavasin, co-founder and general partner at The VR Fund, said in a statement. “The VR industry is healthy and growing steadily and we are seeing increased investor interest from traditional venture funds and new VR and AR focused funds alike.”
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