Pioneer VR software company Gemba, which offered virtual reality training to big brands like Nike and Carlsberg, has raised $18 million in a Series A funding round that Parkway Venture Capital spearheaded. The transaction values the company at $60 million.
The investment is meant to provide the necessary financial muscle for the company’s penetration into Europe, the Middle East, Africa and North America.
Gemba attained a proprietary status in virtual reality educational/training service after it got gigs with AstraZeneca, Nike, and Carlsberg to provide life-like training experiences via VR headsets.
Gemba CEO, Nathan Robinson, described Gemba as an impactful solution to one of the significant challenges faced by transformational leaders wishing 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 its growing portfolio of pioneering technology of the future.
Gemba charges about $7,250 per program for lessons, making it an expensive endeavour to host a masterclass. A 50-person team can purchase an enterprise subscription for $120,000 per year; at a larger scale, they can cost up to $1.2 million.
Talking about the experience, Gemba is trusted by over 4000 executives; a recent example is the Aptiv augmented reality workforce training that helped the leading automotive supplier to convey in-depth knowledge at a very minimal cost.
The $18 million funding round is just one out of the thousands of funds flowing into developing contemporary VR technologies. Throughout 2022 institutions like Animoca Brands, HSBC, chip maker Qualcomm and investment management firm Invesco all served as conduit pipes for generations of VR venture capital.