Chicago, IL (USA), July 2020 - Enduvo, a company that makes interactive, immersive content easy to create, share, and consume, has secured $4 million in seed capital from MATH Venture Partners and existing investor UL Ventures. The financing will scale the development, deployment, and adoption of its platform. The investment also enables the company to meet the growing COVID-influenced demand for effective, affordable distance-based communication, collaboration, and training.
"We 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 socioeconomic status," said Steve Garrou, chairman and CEO of Enduvo.
"Studies show immersive experiences are more engaging and drive greater understanding. However, creating and sharing this type of content has been expensive, time-consuming, and out of reach for most. By eliminating these obstacles, Enduvo increases the impact people can have on each other, their work, and the world at large. We're excited to have such high-caliber investors support our mission of empowering everyone to create and share meaningful immersive experiences that enrich people's lives."
"Our continued investment in Enduvo demonstrates our confidence in the company's ability to succeed and highlights its synergy with our mission, which is to work toward a safer and more secure, sustainable world," said Simin Zhou, managing director, UL Ventures. "In addition to participating in this financing round, we are deploying Enduvo to train our service teams and exploring how we can augment our customer training programs with immersive learning opportunities."
Enduvo enables anyone, regardless of technical knowhow, to quickly create and instantaneously distribute content to people anywhere, on tablets, computers, and augmented and virtual reality devices. Military, healthcare, and education organizations such as the US Air Force, National Institutes of Health, and University of Illinois College of Medicine use Enduvo to significantly reduce content creation costs and deliver training, collaboration, and instructional content much faster.
Enduvo's customers train airmen to be mission ready; collaborate with researchers on opposite sides of the world to find cures for deadly diseases; prepare medical students to be more successful practitioners; and create content to effectively teach students remotely.
"At a time when the world is scrambling to safely educate, train, and collaborate remotely, Enduvo is building a platform that will let anyone, anywhere create and share immersive content across the globe in minutes. Enduvo is a game changer for immersive collaboration and training," said Dana Wright, Managing Director of MATH Venture Partners, who will join Enduvo's board of directors.