The Venture Reality Fund II specialises in the extended reality (XR) sector, including technologies in both the personal and professional spheres
One of 5G’s most interesting capabilities is that its ultra-high speeds and low latencies will allow for various XR applications to become a reality. From virtual reality (VR) video games, to surgeons using augmented reality overlays in the operating theatre, the possibilities for XR in both personal and private settings are almost endless. Coupled with AI, 5G-facilitated XR is set to be at the forefront of Industry 4.0.
Now, Orange is investing, via its holding company Orange Digital Investment, in the Venture Reality Fund II, a fund dedicated to exploring the potential of XR. The Fund aims to raise at least $50 million, which it will then invest in at least 35 companies working in the XR space. The Fund is managed by the Venture Reality Fund based in Silicon valley, with which whom Orange will work closely via their own offices in California.
“At Orange, we are fully committed to supporting the next immersive technology revolution. Contributing to this new ecosystem is a way for Orange to open new opportunities by leveraging our 5G networks and creating new experiences for our customers,” said Karine Dussert-Sarthe, Product Marketing, Design and Open Innovation Director at Orange.
Orange notes that they are the first European telecoms player to invest in the Fund, having been exploring the potential for XR for a number a years. Just a week ago, Orange joined the Global XR Content Telco Alliance, a group launched last September and headed up by LG Uplus. The Alliance includes numerous telcos, including Verizon, Chunghwa Telecom, and KDDI, aiming to expands the scope of realistic content to various fields such as performances and documentaries using various forms of the latest XR technologies.
The exact monetary commitment from Orange to the Fund remains unclear, but the companies interest in the rapidly expanding potential in XR is clear to see. How many other telcos will follow suit as 5G becomes more ubiquitous?
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