Pioneering VR software company Gemba, which has provided virtual reality training to big brands like Nike and Carlsberg, has raised $18 million in a Series A funding round spearheaded by Parkway Venture Capital. The transaction values the company at $60 million.
The investment is intended to provide the financial muscle necessary for the penetration of the company in Europe, the Middle East, Africa and North America.
Gemba gained ownership status in the virtual reality education/training service after it landed gigs with AstraZeneca, Nike, and Carlsberg to deliver realistic training experiences via VR headsets.
Gemba CEO Nathan Robinson described Gemba as an impactful solution to one of the significant challenges facing transformational leaders who want to equip their workforce with relevant and cost-effective training.
Jesse Coors-Blankenship, co-founder and general partner of Parkway Venture Capital, said he is excited to welcome Gemba to his growing portfolio of pioneering technology from the future.
Gemba charges around $7,250 per program for lessons, making it an expensive endeavor to host a masterclass. A team of 50 people can buy a business subscription for $120,000 a year; on a larger scale, they can cost up to $1.2 million.
Speaking from experience, more than 4,000 executives trust Gemba; a recent example is Aptiv’s augmented reality workforce training that helped the leading automotive supplier deliver in-depth knowledge at minimal cost.
The $18 million funding round is just one of thousands of funds flowing toward the development of contemporary virtual reality technologies. Throughout 2022, institutions like Animoca Brands, HSBC, chipmaker Qualcomm, and investment management firm Invesco served as conduits for generations of VR venture capital.
