Which XR startups raised money?

This blog post has been written by the person who has mapped the extended reality (XR) startup funding market in a clean and beautiful presentation

The XR startup funding landscape in 2024-2025 reveals a concentrated market where mega-rounds dominate total investment volumes.

Enterprise-focused platforms capture the majority of investor attention, with specialized VCs and corporate strategic funds driving deal activity across geographic regions that favor US-based startups but show growing European presence.

And if you need to understand this market in 30 minutes with the latest information, you can download our quick market pitch.

Which XR startups raised the most funding in 2024 and 2025 so far, and how much did they each secure?

Infinite Reality leads the pack with a massive $3 billion private growth round in January 2025, achieving a $12.25 billion valuation.

Magic Leap secured the largest 2024 round with $590 million in Series F funding in February, though the company did not disclose its valuation. Infinite Reality also raised $350 million in a Series C round during July 2024, demonstrating consistent investor confidence in spatial computing platforms.

Rokid captured $70 million in Series B funding in October 2024, positioning itself as a leader in AI-driven smart glasses for both consumer and enterprise markets. Smaller but significant rounds include Polycam's $18 million Series A in June 2024 for photogrammetry services and StatusPro's $20 million Series A in May 2024 for sports-themed VR experiences.

The concentration becomes evident when examining that just two companies—Magic Leap and Infinite Reality—accounted for 58% of the entire $1.62 billion raised across all XR startups in 2024. This suggests that while the total number of funded companies remains healthy, investors are placing larger bets on proven platforms with clear revenue models rather than spreading capital across numerous early-stage experiments.

Looking for the latest market trends? We break them down in sharp, digestible presentations you can skim or share.

Who are the major investors actively backing XR startups, and which specific companies have they invested in?

Corporate venture capital arms dominate the XR investment landscape, with Meta Reality Labs, Google Ventures, and Intel Capital leading strategic investments in platform-adjacent technologies.

If you want fresh and clear data on this market, you can download our latest market pitch deck here

What do the top-funded XR startups actually do, and what makes their technology or business model stand out?

The highest-funded XR startups focus on enterprise-grade spatial computing platforms that solve specific business problems rather than consumer entertainment applications.

Infinite Reality operates a comprehensive spatial computing platform that powers immersive 3D web experiences, commerce applications, and live events. Their competitive advantage lies in an end-to-end proprietary environment builder combined with a data-ownership model that gives enterprises full control over their virtual assets and user interactions.

Magic Leap develops waveguide-based AR headsets featuring ultra-light optics that emphasize clarity, wearability, and seamless enterprise integration. Their technology stands out through advanced waveguide manufacturing that reduces weight while maintaining visual fidelity, making their devices practical for extended workplace use rather than short demonstration sessions.

Rokid leverages proprietary AR operating systems and vision-AI stacks to create smart glasses for both consumer and B2B applications. Their differentiation comes from integrated AI processing that enables real-time object recognition, translation, and contextual information overlay without requiring constant cloud connectivity.

Polycam democratizes 3D capture through photogrammetry-as-a-service platforms accessible via standard mobile devices. They've built a strong developer ecosystem and content marketplace that allows businesses to create 3D assets without specialized equipment or technical expertise.

StatusPro combines sports-themed VR experiences with performance analytics, creating training tools that blend gaming engagement with measurable skill development. Their Google Ventures backing reflects confidence in their ability to monetize both entertainment and professional athlete training markets.

Conclusion