VRAI Secures £4.1m to Boost US Presence
Deal News | Feb 27, 2025 | Business Cloud
VRAI, an immersive technology firm based in Dublin and Newcastle, has successfully raised £4.1 million in a Series A funding round. The firm specializes in integrating simulation solutions with virtual reality headsets and traditional simulators to deliver performance insights for immersive training. The funding was led by transatlantic venture capital firm Beringea and aims to support VRAI's expansion into the US market. With the new capital, VRAI plans to double its workforce while investing in product, sales, and marketing. Beringea's network is set to play a crucial role in VRAI's US growth. VRAI's clientele includes the British Army, Kongsberg, BAE Systems, and entities in the offshore renewable energy sector. Pat O'Connor, VRAI's CEO, emphasized the investment's importance in continuing their innovation and team expansion. Beringea's Investment Director, Luke Edis, highlighted the growing trend in global industries towards simulated training environments.
Sectors
- Immersive Technology
- Venture Capital
- Training and Simulation
Geography
- United States – The funding aims to support VRAI's expansion into the US market.
- United Kingdom – VRAI has operations in Newcastle, part of the UK.
- Ireland – VRAI is also based in Dublin, Ireland.
Industry
- Immersive Technology – VRAI operates within the immersive technology space, integrating VR and simulation solutions for training.
- Venture Capital – The funding round was led by venture capital firm Beringea, indicating the involvement of the venture capital industry.
- Training and Simulation – VRAI focuses on providing simulated training environments for industries such as defense and offshore renewable energy.
Financials
- £4.1 million – The amount raised by VRAI in the Series A funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| VRAI | Target Company | Company | An immersive tech firm providing simulation solutions. |
| Beringea | Investor | Company | Transatlantic venture capital firm leading the Series A funding round. |
| Pat O'Connor | CEO of VRAI | Person | Founder and CEO of VRAI. |
| Luke Edis | Investment Director at Beringea | Person | Investment Director involved in the deal from Beringea. |
| British Army | Client | Company | A client of VRAI using their simulation platform. |
| Kongsberg | Client | Company | A client of VRAI using their simulation platform. |
| BAE Systems | Client | Company | A client of VRAI using their simulation platform. |