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Is Enterprise XR Viable in 2025?
How Startups Need to Position and Market themselves
Dave Haynes
May 07, 2025
Welcome to Viewpoints, news and investment activity covering the next generation of computing - brought to you by FOV Ventures.
This Month:
IXI (formerly Pixieray) raises $36.5M
Jeremy Dalton joins FOV's Edge Network
Marketing deep tech – new playbook launched
What is the current state of Enterprise XR?
Corporate technology adoption operates like a spotlight, illuminating one stage while leaving others in darkness.
Right now, that light shines squarely on AI, casting long shadows over XR.
Microsoft's HoloLens exit has created a leadership vacuum with Google, Apple, and Meta competing to fill the void, while ArborXR's acquisition of InformXR signals market maturation toward analytics and ROI measurement. Despite reduced hype since the "metaverse moment" of 2021-22, companies solving genuine business problems with immersive technology are still gaining some traction.
We recently connected with the newest member of FOV's ‘Edge Network’, Jeremy Dalton, whose journey offers a particularly valuable perspective on this shift.
Before becoming one of XR's most respected voices, Jeremy cut his teeth in finance at PwC during the 2008 crisis, giving him the rare ability to speak both C-suite finance and emerging technology languages. He's observed that organisations struggle to focus on multiple technological transformations simultaneously due to cognitive bandwidth limitations, not just budget constraints.
This pattern highlights why marketing for deep tech and XR startups requires a unique approach – something our portfolio company Distance Technologies has mastered. In our latest blog featuring CMO Jussi Mäkinen, we explore how marketing functions as a product accelerator long before launch - "Plant your flag early. Tell the world what mountain you're climbing before you reach the summit."
Winning Strategies for XR Companies in 2025
Business problem centricity - Resilient XR companies have restructured their positioning around specific vertical problems rather than horizontal technology capabilities. Instead of selling "immersive training solutions," they are positioning as "40% faster manufacturing onboarding" or "70% reduction in safety incidents."
Incremental integration over transformation - Enterprises resist wholesale system overhauls. Successful XR startups position their solutions as enhancements to existing processes rather than revolutionary replacements. This reduces perceived risk and shortens sales cycles.
Geographic opportunism - While Western markets have largely pivoted attention from XR to AI, the Middle East continues robust investment in spatial computing, particularly for visually impressive applications. For XR startups facing headwinds in traditional markets, this geographical pivot represents a meaningful growth opportunity.
Jeremy's insights will be available in expanded form through his forthcoming book, but in the meantime, his addition to FOV's Edge Network provides portfolio companies with access to hard-won perspective on navigating enterprise XR adoption in an increasingly complex technology landscape.
For more practical tips on cutting through the noise with deep tech marketing - Read our full interview with Jussi Mäkinen - he reveals how marketing became Distance Technologies' secret weapon for attracting talent, investment, and partnerships long before product launch.
FOV NEWS
IXI Raises $36.5M to Transform 750-Year-Old Eyewear Industry
We're part of the round led by Plural, with participation from Tesi, Heartcore Capital, byFounders, Eurazeo, Tiny Supercomputer Investment Company, and existing investors including Amazon Alexa Fund.
Why we're excited:
Solving a genuine problem - 2.2 billion people worldwide suffer from vision impairment. IXI's technology fits inside normal frames while eliminating the need for bifocals (a "solution" from the 1800s) through dynamic focusing.
Technical breakthrough - The team has developed over 150 patents, using ultra-low-power infrared sensors to track eye convergence and liquid crystal lenses that adapt in real-time with all-day battery life.
Exceptional founding team - CEO Niko Eiden led Nokia's team that became Microsoft HoloLens and previously shipped the Nokia 3310/3315 (150M units). Chief Algorithm Officer Ville Miettinen, a Finnish hacking legend, was previously Principal Engineer at NVIDIA after selling his computer graphics company to them.
European leadership opportunity - Eyewear is one of Europe's sleeping giant industries, dominated by EssilorLuxxotica (€100B market cap). With top optics companies like Carl Zeiss and Fielmann also based in Europe, IXI has access to a unique talent and expertise pool.
While the immediate application focuses on vision correction, the technology's implications extend to AR/VR, enabling less bulky devices and eliminating the need to wear spectacles under headsets. The company is also exploring medical applications for myopia treatment in children.
Elsewhere...
M-XR has raised $7M to create photorealistic 3D assets.
The round includes Horizons Ventures, Epic Games, Expa, Rendered VC , Aream & Co., and angels like Matthew Ball, Chris Lee, and Pim de Witte - alongside our continued support.
Their Marso software is already producing thousands of photorealistic PBR datasets
Capture with ANY device that has a camera and flash - no specialized hardware needed
Automatic materials generation with zero manual cleanup
Works with any engine or shader system
FOV (ad)Ventures!
FOV's inaugural (ad)Ventures brought together founders, co-investors and extended network for three days in Finnish Lapland.
It was a great time to connect with our portfolio companies and extended FOV family, to learn from great workshops and networking sessions, and even test out the Apple Vision Pro as ski goggles!
Enjoy the highlights below!
Future Visions: Physical AI
FOV Ventures' own David Ripert just shared his expertise on Physical AI at techUK's Future Visions webinar alongside experts from ARIA, Enchanted Tools, and the University of Manchester.
The panel explored how AI-powered robotics and intelligent physical systems are transforming industries from healthcare to construction. You can watch it here!
Plus, read more about FOV’s view on the future of Physical AI here.
FOV Portfolio News
Ray Browser has introduced Game Links, a new feature that automatically detects game links from friends, Discord or bookmarks and opens them optimally in the browser. more here
Atopia has launched a platform enabling creation of full 3D exhibitions in under 10 minutes with no 3D skills or code required, available live on Web & VR. more here
Flow Computing was highlighted on The Nordic Venture podcast as "One of the Startups to Watch," with a 20-minute AI-to-AI deep dive explaining their unique PPU technology. more here
Graswald AI is showcasing new E-Commerce Photography capabilities that help fashion brands create on-model product visuals without traditional photoshoots. more here
Scenario launched new Image-to-Image capabilities allowing creators to use any image or sketch as a visual anchor to speed up character variation creation. more here
FOV Job Board
ai|coustics (Berlin): Experienced Full-Stack Developer, Experienced Backend Developer, Founding Sales Manager
Atopia Space (Germany): Intern - Founder's Associate (m/f/d) in Metaverse Platform for Arts & Culture
Doublepoint (Helsinki): Principal ML Engineer
IXI (formerly Pixieray): Senior Algorithm Developer
GEEIQ (London): Chief of Staff, Operations Assistant (£30k-34k)
Iconic AI (London): Principal Technical Designer, Senior Game Engineer, Principal Technical Artist
nunu.ai (Zürich): Marketing (part-time), Full-Stack Engineer, Agent for AAA games (internship), Founders Associate (internship), Wildcard, LLM engineer