Spatial: Holographic Cross-Reality Collaboration Platform

Hologram-based Cross-Reality Collaboration Platform – Attracted $14 Million in Investment

Spatial empowers people to be more connected, creative, and productive.

Spatial-Holographic Cross-Reality Collaboration Platform

A VR version of ‘Zoom’ that allows participants to collaborate by sharing documents or images with each other after participating as avatars in virtual reality created through VR devices.

Including VR devices such as HoloLens, Quest, Magic Leap, etc., it can be accessed from smartphones and PCs, and 25% of Fortune 1,000 companies are interested.

Spatial

Spatial's mission is to empower people to be more connected, creative, and productive. Their first product transforms how people work. Spatial is the collective computing platform for organizations to unlock their productive and creative potential.

Spatial was founded in 2016 and raised a seed round from investors including iNovia Capital, Expa (founded by Garrett Camp), Lerer Hippeau, Samsung NEXT, as well as angels including Mark Pincus (Founder of Zynga), Andy Hertzfeld (Co-Inventor of the Macintosh), and Joi Ito (Director of the MIT Media Lab). We are a passionate team of 3D Design and AR/VR experts.

General Information

Headquarters : New York, NY
Founders : Anand Agarawala, Jinha Lee
Categories : Augmented Reality, Software, Virtual Reality
Founded : 2016
Contact : hello@spatial.io

Funding

Investors: Andy Hertzfeld, Baidu Ventures, Expa, Inovia Capital, Kakao Ventures, Leaders Fund, Lerer Hippeau, Mark Pincus, Mike Krieger, Samsung NEXT, White Star Capital
Funding Rounds (5) - $22.3M
Jan 30, 2020 Series A / $14M
Jan 1, 2019 Seed Round
Oct 24, 2018 Seed Round / $8.3M
Jun 1, 2017 Venture Round
Jan 1, 2016 Non Equity Assistance

1. Reason for attention

Tools that support online collaboration among employees, such as Google Hangout and Zoom, are attracting attention due to COVID-19

These tools provide video meetings and enable collaboration, such as file transfer, but for projects involving multiple people or projects requiring a variety of resources, real-time sharing of data is lost due to the absence of the concept of a workspace that must be continuously maintained. There are limitations due to lack of communication skills such as

Even in the after Corona (AC) era after the Corona 19 situation is settled, telecommuting is expected to become the new normal, and the demand for a technology platform that can blur the line between telecommuting and office work is expected to increase.

Some U.S. companies have already begun easing application requirements, assuming that they work from home and consider applicants within a four-hour travel distance of the office as one district.

2. Related Market status

In the AR/VR market, a total of $45 bil has been assessed so far ($8 bil has already exited through M&A, etc.), of which 50% of the enterprise value is concentrated in 18 companies.

The expansion of the consumer market is slow, with 6 million VR headsets sold in 2019, less than expected, and it is not enough to become mainstream.

Magic Leap 1, which was ambitiously released by Magic Leap with the goal of selling 1 million units per year, was released directly in April 2020 with a poor record of selling 6,000 units in 6 months.50% of the won, or 1,000 layoffs

However, for businesses, relatively active movements are underway, centering on companies such as STRIVR, which provide training on the use of VR.

3. Current service status

Spatial provides a collaboration tool that allows users to participate in a virtual space composed of holograms in the form of avatars to talk and share files as if they were in one space.

Microsoft HoloLens, Oculus Quest, Magic Leap 1, Qualcomm XR2, and Android/iPhone and PC can access the holographic collaboration space without device restrictions

We have confirmed the possibility of expanding the base by securing non-tech companies such as Mattel, Purina/Nestle, and BNP Paribas as customers.

4. Future Prospects

As 5G infrastructure, such as AWS Wavelength, which provides ultra-low latency services by adding AWS compute and storage to the 5G edge of telecom operators, improves, related technologies such as the development of next-generation AR/VR headsets using it are expected to develop rapidly