SyncReality is a Berlin-based startup creating an extended reality developer tool for auto-adaptive playfields. This includes augmented, virtual, and mixed reality.
SyncReality aims to incorporate different elements of the physical world into an XR application which then enables the user to interact with them. SyncReality's software comprises three main components: a tool to create parametric, “elastic” virtual objects; a placement software to adapt and scale to different environments; and a simulation mode to test the experiences in various room types before they can be exported for launch on a variety of hardware and platforms.
SyncReality targets an attractive and fast-growing market that has a compound annual growth rate of over 30% and could reach a value of over USD 50 bn by 2025, as virtual and mixed reality solutions are becoming more mainstream.
Since the initial investment by Serpentine Rookie Fund I in SyncReality, several positive developments have taken place, including:
From a product perspective, the company has further developed their XR design tool, including the integration of third party software development kits and APIs of major companies such as Meta, Qualcomm, Niantic, HTC, and Apple. This allowed them to complete two pilots with a vCommerce shopping app, a photography and art foundation, and to start discussions on four additional paid pilot projects with Orange, DT, TUI, and Cortana. The alpha release of the product is planned for November of this year, while the broad product launch is expected to take place in June 2023.
From the commercial side, SyncReality targets the game designers for Meta Quest2 and Cambria, the content creators for Lenovo AR and Apple XR , as well as B2B partners in retail, vCommerce and XR LBE. The company has been present at major AR events globally, such as AWE, where they received a grant from Qualcomm and were selected among a few companies to test Meta’s new Cambria headset. Apart from that, SyncReality is part of the newest batch of Deutsche Telekom and Qualcomm’s Hubraum Tech Incubator.
From the funding perspective, SyncReality received EUR 1.6m of state financing to further develop their technology. On the team side, the company grew from a founding team of three to 15 fixed positions and 10 freelancers, with the latest hires in the field of machine learning and community building.
Given the good progress made by the company, the Investment Team, Portfolio Management and Investment Committee of the Rookie Fund, I recommend participating in the extension of the round with a follow-on investment in SyncReality with the Rookie Fund I.
