Virtual Reality is one of the fastest growing sectors of the startup world. Many companies are capitalizing on this to create their own companies in the VR sector that range from services to apps and even devices. Magic Leap, one of the most well-known companies in VR, currently has $1.39 billion in funding with a list of investors that include Google, Morgan Stanley, Alibaba Group, and Warner Brothers. Magic Leap is still developing their product and it is unknown when they are planning to launch, but we do know that they are creating a wearable that allows the user to interact with virtual objects “in a cinematic way.”

NextVR is another well-known startup backed by Time Warner and Comcast Ventures. The $115.5 million in funding they currently have with the help of Time Warner and Comcast has lead the company to create an app of its own kind. NextVR brings live events straight to the user’s VR device. These events could include concerts, sporting events, award shows, and more, making the user feel like they are actually at the event, and not in the comfort of their own home. The NextVR app is currently on the market and is available for purchase now.

Additionally, AltspaceVR is another new startup based in Northern California. With the help of Formation 8 and Comcast Ventures, AltspaceVR has created a social platform for interaction with friends in Virtual Reality. This is similar to FaceTime on an iPhone, or video chatting on a computer, but with the use of 3D avatars instead. These avatars are brought into a virtual environment where they can talk, play games, and do essentially anything that you might want to in person. AltspaceVR is also currently available for download on the Samsung Gear VR, HTC Vive, and Oculus Rift. 2D versions are also available on a Mac or PC computer.

These are just some of the well-known and most profitable VR startups currently out there. As both the VR and AR industries continue to grow, more startups will begin to arise in this field brining innovations that we can only imagine.

Below is the full infographic by On The Grid:



[Touchstone Research]