Orange made a bet on extended reality (XR), investing in a US-based venture capital fund focused on advancing the sector and fast tracking new services using 5G connectivity.
In a statement, Orange detailed plans to plough an undisclosed amount in Venture Reality Fund II, which aims to make early-stage investments at least 35 companies in the XR sphere and grow its capital to at least $50 million.
Venture Reality Fund II is managed by venture capital company Venture Reality Fund (VRF), established in 2016.
Orange explained its investment was designed to aid the development of technologies in AR, VR, MR and AI, with a focus on entertainment, medicine and Industry 4.0, among others.
Karine Dussert-Sarthe, EVP of global product, marketing, design and open innovation at Orange, emphasised the group’s commitment to support “the next immersive technology revolution”.
She added the move will pave the way for new opportunities for Orange, “by leveraging our 5G networks and creating new experiences for our customers”.
Orange’s investment comes a little more than four years after the operator introduced a VR headset and app for the European market.Subscribe to our daily newsletter Back