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Serious Labs Closes $5m Funding

Date Type Companies involved Size
August 16th, 2017 investment $5m
Serious Labs Closes $5m Funding

Serious Labs, Inc. (SLI) has accepted $5 million in a Series A equity financing round to continue its mission to develop innovative training solutions for heavy industry. The funding was made by two co-investors, United Rentals, and Brick and Mortar Ventures

Serious Labs also revealed it has secured over $3.5 million in new product development contracts to ‘augment’ its suite of VR equipment simulators, which include crane models, forklifts, backhoes and skid steers. We presume this means make more of them, not turn them into AR apps...

 

Safety And Productivity

Jim Colvin, CEO at Serious Labs said, “Our technology makes a difference in worker safety and productivity. It’s something that the industry is ready for as the boomers continue to retire and are replaced by the digital millennial workforce that likes to learn by doing rather than sitting in a traditional classroom.”

Jeffery Fenton, Senior Vice President of Business Development at United Rentals added, “VR simulation offers hands-on training that mirrors the operator experience on a construction or industrial site, and delivers it in a safe and controlled environment.”


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Steve is an award-winning editor and copywriter with 20 years’ experience specialising in consumer technology and video games. He was part of a BAFTA nominated developer studio as project manager for the UK’s first fully interactive digital TV channel. In addition to editing TheVirtualReport.biz, Steve contributes to PocketGamer.biz, PCGamesInsider.biz and BlockchainGamer.biz, as well as creating marketing content for a range of SMEs and agencies.

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