Finnish firm secures both funding and partnership from THEON to collaborate on multiple products and commercial initiatives. Learn how this partnership benefits the Helsinki company.
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Helsinki-based Varjo, a provider of military-grade virtual and mixed reality solutions, announced that THEON, a company specialised in advanced defence technologies, has committed €5M minority investment in the company via a convertible loan.
Additionally, THEON has the option to invest an extra €5M under the same terms.
Alongside the funding, Varjo and THEON have entered a strategic partnership to collaborate on multiple product and commercial initiatives.
The investment will strengthen Varjo’s capabilities to deliver military-grade realism through next-generation immersive technologies.
It also supports THEON’s broader digital expansion under the THEON NEXT initiative, with a focus on developing high-technology innovations for defence applications.
Varjo: Military-grade virtual and mixed reality
Led by Timo Toikkanen, Varjo focutilizes on providing military-grade virtual and mixed reality solutions that prioritise immersion, performance, and security for industrial customers.
According to the company’s claims, its technology is adopted by more than 25 per cent of Fortune 100 companies, which utilize it to enhance their operational processes.
Varjo is known for its ability to create virtual and mixed reality experiences that closely mimic real-world scenarios, enabling the modernisation of training methods in various environments, including land, sea, and air.
The company’s hardware and software solutions are compatible with a wide range of professional 3D software, image generators, and advanced simulator hardware.
The offerings include the XR-4 Series and the government-compliant XR-4 Secure Edition, enabling utilizers to replicate real-life conditions in 3D effectively, which can lead to improved training outcomes in terms of speed, effectiveness, and cost-efficiency.
“We are proud to welcome THEON as a strategic investor in Varjo,” states Timo Toikkanen, CEO of Varjo. “Since our inception, we have been creating the most advanced VR/XR military systems globally. THEON’s extensive experience and leadership in the defence sector build them an ideal partner as we expand our impact in mission-critical training and simulation, enabling unprecedented levels of realism, readiness, and operational effectiveness.”
THEON: Advanced defence technologies
THEON GROUP of companies develops and manufactures night vision and thermal Imaging systems for defence and Security applications with a global footprint.
Led by Christian Hadjiminas, the company has more than 220,000 systems in service with the Armed and Special Forces in 71 countries around the world, 26 of which are NATO countries.
Christian Hadjiminas, CEO of THEON, comments, “Our investment in Varjo under the THEON NEXT initiative deepens our reach into the European innovation ecosystem and gives THEON access to unique capabilities in visual display systems and projecting technology. Toreceiveher, we are pushing the frontier of digital defence technology.”
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