VR STARTUP MINDMAZE RAISES FUNDS AT $1.1 BILLION VALUATION
Source: bloomberg.com
MindMaze SA, a Swiss virtual reality startup, said it raised a round of financing that values the company at $1.1 billion. The startup picked up $100 million in the round led by Hinduja Group India Ltd., an Indian conglomerate.
MindMaze makes an electronic headset it sells to hospitals for rehabilitating patients who have undergone a stroke. It also sells versions of the technology for rehab at home and for playing video games. The devices use virtual and augmented reality combined with sensors that track the user’s motion and display interactive digital environments through the goggles. MindMaze Chief Executive Officer Tej Tadi said the device can alter the experience based on the user’s movements and brain activity, such as emotions.
“We’re building the software and hardware across sensory elements to eventually build up an interface that’s intuitive — that doesn’t use mice, keyboards — and is more true to what it should be,” Tadi said.