Enduvo, a Chicago-based startup that creates content for virtual and augmented reality training, has raised $4 million in a seed funding round led by venture capital firm MATH Venture Partners.
UL Ventures, the venture arm of UL, a large safety testing company based in Northbrook, also participated in the round.
Founded in 2017, Enduvo is a content authoring and delivery platform that allows companies to create interactive and immersive augmented and virtual reality training for their business. Its no-code platform removes the complexity, inflexibility, and high cost associated with creating VR/AR training and allows companies to create and distribute content to people on any device, including tablets, computers, and AR/VR devices.
Enduvo allows users to create and share content in minutes, without any coding skills. It allows experts to import images, videos and 3D models, share real-world, 3D training and education experiences, and learners to master topics in one-on-one real-world 3D immersive environments.
Commenting on the latest development and reflecting on the current global crisis, Steve Garrou, Chairman and CEO of Enduvo, said in a statement,
âWe are at an inflection point, accelerated by the current global health crisis. It is essential that people have access to technologies that facilitate knowledge-sharing regardless of their location or socio-economic status.â
Enduvo enables experts and learners to be more engaged, retain more information, and to be better prepared for the work they do. The startup claims that organizations that rely on 3D objects, complex procedures, or multi-step processes use its software to reduce content development costs by an average 75%, decrease training delivery time by 70%, and increase learner confidence by 95%.
The company said the latest funding will allow it to meet the growing demand for coronavirus-related content that businesses are creating to effectively communicate new workplace protocols to their employees.
Enduvo sells its technology primarily to the military, healthcare and education sectors, and counts the US Air Force, the National Institutes of Health, and the University of Illinois College of Medicine among its customers.
The startup is said to be the first company to come out of Jump ARCHES, a program led by OSF Healthcare and the University of Illinois, to support collaboration between engineers and health care providers.