Chicago start-up InContext Solutions has raised $15.2 million to accelerate development of their VR solutions for retailers and manufacturers. Investors include Intel Capital, Beringea, and Plymouth Ventures. The deal was announced at the annual Intel Capital Summit in San Diego.
Mark Hardy, CEO of InContext Solutions said, “The latest round of funding gives us strong strategic backers who share our vision of even more robust, fully-immersive Virtual Reality solutions for retail.” Hardy explained that, “This investment allows us to aggressively develop our VR platform, further lowering costs and improving speed and revenue for our clients”.
InContext uses VR to help retailers visualise what their shelves will look like in a simulated retail store. This allows them to create and iterate store and aisle layouts without having to physically build them.
“Virtual Reality is expanding to many different industries in addition to gaming,” said Dough Fisher, Senior Vice President and General Manager of the Software and Services group at Intel Corporation. “InContext Solutions has already had significant impact on VR for the retail and manufacturing industries. We are excited to see how virtual reality solutions are poised to transform industries in more immersive, interactive ways.”