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ShapesXR, the groundbreaking VR design and collaboration platform, announces its $8.6 million seed round. The round is led by Supernode Global, Leta Capital participated among Triptyq VC, Boost VC, Hartmann Capital, Geek Ventures, The WXR Fund, and others.
ShapesXR is a pioneer in making collaboration and creation in 3D accessible and completely changing the XR (VR, AR and Mixed Reality) development landscape. The product was launched on Meta Quest store on November 11th, 2021 and has more than 350 000 downloads so far. The platform enables users, regardless of their prior experience, to effortlessly dive into 3D design and prototype immersive apps, such as VR games, AR apps and MR experiences, within minutes. The market research from Precedence Research says that the global XR market stood at $35.14 billion USD in 2022, while the sector will reach around $345.9 billion USD by 2030, with a compound annual growth rate of 33.09% from 2022 to 2030. Here is where ShapesXR takes its leading role as a user-friendly and intuitively easy-to-use software solution.
"From the Leta Capital perspective, our commitment to the XR market remains strong. We believe that it's not a matter of 'if' but 'when' — the paradigm-shifting potential of this computational platform will diffuse in every aspect of our lives", says Sergey Toporov, Partner at LETA Capital. "ShapesXR emerges as a pivotal force in hastening this transformative era. With their app, countless creators can stop just dreaming about new groundbreaking applications and begin to collaboratively prototype, visualize, and pitch them to potential clients and investors using the immersive realm of VR. I am genuinely convinced that ShapesXR has the potential to become an indispensable tool for XR teams across domains. Inga and the entire ShapesXR team embody not only a visionary outlook, but a remarkable capacity to execute and deliver results despite all challenges. This startup stands apart in the industry, possessing a deep understanding of the intricate challenges that XR currently faces from both technological and product standpoints. They're not just reimagining UX in prototyping; they're crafting something uncharted on a quality level compared to massive-funded tech giants. There is still a way to go. The company will definitely face new challenges with the future growth from the product and business sides, but I'm sure that the additional fuel from the great cohort of investors will help ShapesXR to reach every single target the team wants to achieve", emphasizes Sergey.
The platform allows consumers and enterprises to swiftly design fully immersive content with 3D objects, environments, mock-ups, and experience labs. Its powerful storytelling capabilities enable designers to vividly show interactive content coming to life in the real world. Using ShapesXR as an industry standard for UI/UX design, such companies as Logitech and ByteDance use the app for ideation and streamlining of collaboration processes, while others like Qualcomm Technologies produce immersive out-of-this-world journeys like the XR music experience in collaboration with Trigger XR and Duran Duran.
With Apple entering the spatial computing space, the company is going to do for spatial computing what Figma did for the mobile computing era. Designers can already start prototyping their apps for AppleVision Pro in Shapes on Meta Quest Pro and iterate on gaze and pitch interactions for their apps.
With the new capital infusion, the company is well-positioned to advance its product and technology to allow even faster creation by utilizing the latest AI capabilities, going cross-platform, supporting more hardware platforms, and reaching a broader range of enterprise clients.