VR for Retail Accelerates With $15.2 Million Investment in InContext Solutions
“InContext Solutions closes growth funding round led by Intel Capital, Beringea, Plymouth Ventures and existing investors”
InContext Solutions, a global leader in virtual reality (VR) solutions for retailers and manufacturers, today announced the closing of a $15.2 million funding round. The round, led by Intel Capital and Beringea, will help InContext Solutions accelerate sales and marketing efforts, expand its geographic footprint, and improve its VR product portfolio, including further development of solutions for head-mounted devices.
“This latest round of funding gives us strong strategic backers who share our vision of even more robust, fully-immersive virtual reality solutions for retail,” said Mark Hardy, CEO of InContext Solutions. “We have long been a leader in web-based VR, and this investment allows us to aggressively develop our VR platform, further lowering costs and improving speed and revenue for our clients.”
InContext Solutions helps retailers and manufacturers more rapidly visualize, test and deploy new retail concepts using hyper-realistic simulations of actual retail environments. Available through InContext’s flagship ShopperMX™ VR platform, clients can create optimal in-store shopper experiences that lower risk and improve the bottom line.
VR has proven to be a disruptive new approach to traditionally slow and expensive retail processes, significantly reducing the cost and time required for companies to conceive, create, test and activate in-store experiences. By streamlining these processes, InContext Solutions VR technology powers shopping experiences that are more engaging for consumers and more profitable for clients.
“Virtual reality is expanding to many different industries in addition to gaming,” said Doug Fisher, senior vice president and general manager of the Software and Services group at Intel Corporation. “InContext Solutions has already had significant impact on virtual reality for the retail and manufacturing industries. We are excited to see how virtual reality solutions based on Intel® Architecture, such as InContext’s, are poised to transform industries in more immersive, interactive ways.”
Intel and InContext Solutions last month announced a collaboration to develop new VR solutions for the retail ecosystem.
To learn more about InContext Solutions, please visit www.incontextsolutions.com.
About InContext Solutions
InContext Solutions is the global leader in enterprise virtual reality (VR) shopping and retail solutions, allowing manufacturers and retailers to simulate real in-store shopping situations to ideate, evaluate and activate all types of merchandising, display, layout and other in-store shopping experiences within a VR store environment. Use of InContext’s ShopperMX™ platform delivers substantial cost savings and reduces capital expenditures by allowing clients to test and evaluate ideas in the VR store environment—as opposed to doing so in physical stores—while reducing competitive visibility. Visit www.incontextsolutions.com.
About Intel Capital
Intel Capital, Intel's strategic investment and M&A organization, backs innovative startups worldwide targeting computing and smart devices, cloud, datacenter, security, the Internet of Things, wearable and robotic technologies and semiconductor manufacturing. Since 1991, Intel Capital has invested US$11.7 billion in 1,457 companies in 57 countries, and 605 portfolio companies have gone public or been acquired. Through its business development programs, Intel Capital curates thousands of meetings each year between its portfolio and Intel's partners in the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
Beringea provides equity and/or mezzanine debt to growth-oriented companies in the U.S. and UK. The Firm, which includes Michigan-based Beringea, LLC and its London, UK office Beringea LLP, invests in exceptional companies operating in a range of sectors, including healthcare, information technology, advanced manufacturing, media and specialized consumer products.
With flexible capital solutions, extensive investing experience and an international footprint, Beringea’s team offers its portfolio companies the resources to grow their businesses and create value for stakeholders. For more information, visit www.beringea.com.
In the United States of America, Beringea operates as an SEC-registered investment advisor, Beringea, LLC.