Austria-based VR tech start-up Innerspace has received its third investment from Matterwave Ventures.
Together with the existing investors, MAD Ventures, aws Gründerfonds and High-Tech Gründerfonds, have invested a total of €5.7m for continued growth.
Innerspace provides a VR training programme for cleanroom operation.
Founded in 2017, the Innsbruck-based start-up enables risk assessment of production processes and effective training of cleanroom personnel for leading pharmaceutical companies using software and Virtual Reality (VR). With the fresh capital, Innerspace will expand its international market presence and further develop its unique “Frame-by-Frame” technology.
The technology allows for significant process improvements and, consequently, substantial customer benefits
Benedikt Kronberger, Partner at Matterwave Ventures, said: “Innerspace enables its customers to avoid quality problems and minimise production-related contamination risks. We were impressed by the team’s accumulated expertise in one of the most highly regulated industries. The technology allows for significant process improvements and, consequently, substantial customer benefits.”
Numerous renowned pharmaceutical companies worldwide already trust the company’s expertise. Most recently, Innerspace announced a long-term strategic partnership with the Parenteral Drug Association (PDA), for the development of PDA training courses targeting its over 10,500 members worldwide.