V
Varjo
Health Tech & Medtech · Helsinki, Finland · Founded 2016
Developed bionic display technology that allows users to see VR in human-eye resolution MoreLess
Helsinki-based Varjo Technologies Oy, founded in 2016, develops and manufactures high-end virtual reality (VR), augmented reality (AR), and mixed reality (XR) headsets for the professional and enterprise market. The company was established by a team of former Nokia and Microsoft executives: Niko Eiden, Klaus Melakari, Roope Rainisto, and Urho Konttori. This founding group leveraged their extensive experience in hardware, software, optics, and user experience to address a gap in the market for high-fidelity immersive technology. Their vision was to create headsets capable of rendering virtual and mixed reality at a resolution comparable to the human eye, a concept that has driven the company's product development.
Varjo's business model is centered on selling high-performance tethered headsets directly to enterprise clients and through a global reseller network spanning over 40 countries. This is complemented by a subscription-based software and support service, which provides access to Varjo's proprietary software suite and unlocks advanced features. The company primarily serves demanding industries such as aerospace, defense, automotive, medical, and research, with clients including major corporations like Boeing, Volvo Cars, Siemens, and Lockheed Martin. These organizations use Varjo's technology for complex applications like pilot and astronaut training, vehicle design and prototyping, and advanced scientific research.
The company's product line began with the VR-1 in 2019 and has since evolved through several generations, including the XR-3 and VR-3 in 2020, and the more recent XR-4 series. Varjo's key technological differentiator is its 'Bionic Display,' which uses a high-density display in the center of the field of view to mimic the fovea of the human eye, providing extreme clarity where the user is looking. Its headsets feature integrated eye-tracking, hand-tracking, and, in the XR models, LiDAR and high-resolution video pass-through for seamless mixed reality experiences. In addition to hardware, Varjo offers a software ecosystem including the Varjo Reality Cloud platform, designed to stream and share immersive 3D environments, and provides professional consulting services to help clients deploy XR solutions at scale.
Keywords: extended reality, virtual reality headsets, mixed reality, enterprise XR, human-eye resolution, professional VR, training and simulation, aerospace simulation, automotive design, medical VR, industrial-grade XR, LiDAR, video pass-through, eye-tracking technology, immersive computing, digital twin, high-fidelity VR, pilot training, defense technology, engineering visualization, Varjo Reality Cloud, photorealistic VR, enterprise software
Company overview
Varjo company information
The essential company record, classifications and operating signals in one place.
- Status
- Operational
- Founded
- 2016
- Headquarters
- Helsinki, Finland
- Employees
- 218
- Open positions
- 5
- Dealroom signal
- 63.4
- Investment activity
- 1 companies · latest Jun 2021
- Capital deployed
- —
- Preferred round
- ACQUISITION
Valuation & funding
Varjo funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| GRANTOther financing | Oct 2025 | $13M | — | Business Finland | ↗ |
| CONVERTIBLEOther financing | Aug 2025 | $5.5M | — | Theon International | ↗ |
| SERIES DOther financing | Nov 2024 | — | — | Beyond Capital · Nvidia · Nishikawa Communications | ↗ |
| SECONDARYOther financing | Apr 2023 | $3.3M | — | Nordic Secondary Fund | ↗ |
| SERIES DOther financing | Sep 2022 | $40M | $160M | Atomico · Lifeline Ventures · Foxconn Technology Group · Tesi | ↗ |
| DEBTDebt | Dec 2021 | European Investment Bank | ↗ | ||
| SERIES COther financing | Aug 2020 | Atomico · Lifeline Ventures · NordicNinja VC · Tesi | ↗ | ||
| EARLY VCOther financing | May 2019 | Undisclosed | — | ||
| SERIES BOther financing | Oct 2018 | EQT Ventures · Lifeline Ventures · N47 · Atomico | ↗ | ||
| GRANTOther financing | May 2018 | European Innovation Council | — |
Financials
Revenue, earnings and profit over time
Reported history and available estimates. Estimated years are marked “E”; sparse fields are left blank rather than inferred.
| Year | Revenue | Growth | EBITDA | Margin |
|---|---|---|---|---|
| 2026 | $21M | 0% | −$29M | -137.2% |
| 2025 | $21M | 0% | −$29M | -137.2% |
| 2024 | $21M | -17.9% | −$29M | -137.2% |
| 2023 | $26M | +4.7% | −$29M | -112.7% |
| 2022 | $25M | +109.5% | −$29M | -118% |
| 2021 | $12M | +53.8% | −$20M | -171.5% |
| 2020 | $7.8M | — | −$24M | -308.9% |
Growth signals
Varjo website traffic
Latest recorded traffic for Varjo is 82K monthly website visits, down 4.7% over the last three months. Varjo's team declined 0.5% over the past year.
Hiring
Open positions at Varjo
Current openings linked to this company in Dealroom.
Comparisons
Varjo compared with similar companies
Dealroom’s weighted taxonomy model identifies the closest operating peers. Company identity and context stay open; selected comparison metrics preview what is available in the platform.
Capital deployed
Varjo investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Talent graph
Varjo's talent
Source: Dealroom Talent Intelligence.
Global footprint
Where Varjo has talent and traffic
team presence
In the news
Latest news about Varjo
Recent press, funding announcements, and product moves mentioning Varjo — open to read from the original sources.
Market sentiment
What the market is saying about Varjo
An AI-synthesized read of the highest-engagement posts about Varjo on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
See Varjo’s full profile on Dealroom
Request a free trial to see the complete deal history, financials, people graph and growth signals.
Takes under a minute. Already use Dealroom? Log in.





























