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Spatial Computing

Spatial Computing

Companies

All subsectors
3D Capture
AR Glasses
Dev Platforms
Enterprise Smart Glasses
Enterprise VR Training
Foundation Models
Headsets & Spatial OS
Optics & Components
Smart Contact Lenses
Uncategorised
VR Collaboration
VR Hardware

All statuses
Acquired
Private
Public

1—
Unity
Dev Platforms
2—
Apple
Headsets & Spatial OS
3—
NVIDIA
Dev Platforms
4—
Samsung
Headsets & Spatial OS
5—
Niantic Spatial
Dev Platforms
6—
PTC
Dev Platforms
7—
Magic Leap
Enterprise Smart Glasses
8—
Google
Headsets & Spatial OS
9—
Luma AI
3D Capture
10—
Meta
Foundation Models
11—
Snap
AR Glasses
12—
XREAL
AR Glasses
13—
Sony
VR Hardware
14—
Sandbox VR
VR Collaboration
15—
Mojo Vision
Smart Contact Lenses
16—
Microsoft
Enterprise Smart Glasses
17—
HTC
VR Hardware
18—
Lucyd
AR Glasses
19—
RealWear
Enterprise Smart Glasses
20—
Vuzix
Enterprise Smart Glasses
21—
Pimax
VR Hardware
22—
Varjo
VR Hardware
23—
Brilliant Labs
AR Glasses
24—
Epic Games
Dev Platforms
25—
Even Realities
AR Glasses
26—
Polycam
3D Capture
27—
XPANCEO
Smart Contact Lenses
28—
Dispelix
Optics & Components
29—
Looking Glass Factory
Optics & Components
30—
Bigscreen Beyond
VR Hardware

Tracked

——
KIRI Engine
3D Capture
——
Mursion
Enterprise VR Training
——
Snap Specs
AR Glasses
——
Spatial.io
VR Collaboration
——
Strivr
Enterprise VR Training
——
Tilt Five
AR Glasses
——
Treeview
Dev Platforms
——
Virti
Enterprise VR Training
——
Cornerstone Immerse
Enterprise VR Training
——
Moth+Flame
Enterprise VR Training
——
RayNeo
Uncategorised

No roster changes this week. The roster is re-evaluated quarterly; read the methodology in the disclosures.

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Theme

KPIs

Total funding YTD

$0

across 2 rounds

Companies tracked

0

10 countries

Largest round YTD

$0

XREAL · Series D

Median round YTD

$0

across 2 rounds

News volume · 7d

0

+106% vs prior 7d

Sentiment · 7d

0

Positive

0

Neutral

0

Negative

Hot company · 7d

Apple

68 mentions

Most patents filed · 12mo

01Apple659
02Microsoft526
03Sony493

Most raised · all-time

01Meta$18.0B
02Epic Games$7.9B
03Snap$6.0B

Signals

Venture capital deployed · 2026 YTD

$118M

2 announced rounds

▼vs $2.4B in 2025

Sector market cap

$17T

9 public companies

▬largest = 29% of sector

Largest raise · trailing 12mo

$900M

Series C · Luma AI

Catalysts ahead · next 12mo

7

1 conferences · 6 earnings

Companies tracked

41

13 public · 28 private

Videos

View all 832 →

Catalysts

Conferences

Major industry dates · soonest first

Sep 23, 2026Meta Connect 2026 — Menlo Park

Earnings Calls

Public roster companies · forecast from SEC filings

Oct 28, 2026· rumoredGoogle — Q3 2026 earnings
Oct 28, 2026· rumoredMicrosoft — Q3 2026 earnings
Oct 28, 2026· rumoredPTC — Q3 2026 earnings
Oct 29, 2026· rumoredApple — Q3 2026 earnings
Oct 31, 2026· rumoredSnap — Q3 2026 earnings
Nov 19, 2026· rumoredVuzix — Q4 2026 earnings

Policy & Courts

Hearings · rulings · statutory deadlines

Nothing on the calendar yet.

Venture Stages

1

Seed

KIRI Engine$200K
Brilliant Labs

2

Series A

Series A

XPANCEO$250M
Polycam$18M
Bigscreen Beyond$11M
Virti$10M
Even Realities

3

Series B

Series B

Strivr$35M
Spatial.io$25M
Tilt Five$13.9M

4

Series C

Series C

Luma AI$900M
Pimax$13.6M
RealWear$650K

5

Series D

Series D

Epic Games$1.5B
XREAL$100M
Varjo$40M
Mojo Vision$17.5M
Mursion$5M
Niantic Spatial

6

Public & Acquired

Public & Acquired

Meta$16B
Snap$3.4B
Google$1.2B
Unity$690M
Apple$101M
Microsoft$61M
NVIDIA$42M
Vuzix$20M
Lucyd$7.3M
Cornerstone Immerse
Dispelix
HTC
PTC
Samsung
Sony

Valuations

Sized by valuation · area is proportional to market value

Zoom

Public caps as of Aug 25, 2026

Public · real-time market capPrivate · last-round valuation

13 companies without valuation on file

Funding & analysis

AI Analysis

Spatial computing mega-rounds heat up: $900M Luma AI, $250M XPANCEO Series A surge in 2025.

Updated Aug 2026 · 145 rounds

Company

75

76

77

78

79

80

81

82

83

84

85

86

87

88

89

90

91

92

93

94

95

96

97

98

99

00

01

02

03

04

05

06

07

08

09

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

Total Raised

Round sizes
Mega-rounds ($100M+) dominate 2025-26: Luma AI Series C $900M, XREAL Series D $100M, Magic Leap convertible $205M. Seed activity stalled; median round size skews heavy. Early-stage quieter than 2021–22.
Stage mix
Late-stage captures most 2025 capital. Series C, D, growth, and convertibles—all $30M+—stack the portfolio. Seed and Series A sparse except XPANCEO's $250M outlier. Middle rounds squeeze out.
Lead investors
Alibaba, Amazon, Andreessen Horowitz, Sequoia lead recurring deals. Public Investment Fund backs Magic Leap repeatedly ($205M, $590M, $450M). New entrant HUMAIN leads Luma $900M. Khosla, NEA quiet lately.

FOBI Editorial

FOBI Editorial
Spatial computing’s medical validation is outpacing its consumer use cases—and investors are missing the signal.
08.09.26
FOBI Editorial
Privacy is becoming spatial computing’s make-or-break feature—not its selling point.
08.02.26
FOBI Editorial
Spatial computing’s real competition is shifting from hardware to the unglamorous supply chain that enables it.
07.26.26
FOBI Editorial
Spatial computing’s hardware race is fragmenting into verticals—leaving horizontal platforms stranded.
07.19.26

Books

As of 2026-08-01

Relevancy
Most recent

Richard Szeliski · 2021
Computer Vision: Algorithms and Applications
Spatial computers rely on real-time computer vision for scene understanding, object recognition, and environmental mapping. Szeliski's authoritative treatment provides the technical foundation operators need to understand what their hardware is actually doing.
Buy Read reviews
Joseph J. LaViola Jr., Ernst Kruijff, Ryan P. McMahan, Doug A. Bowman, and Ivan Poupyrev · 2017
3D User Interfaces: Theory and Practice
As spatial computing shifts from desktop to embodied, head-mounted interfaces, understanding 3D UI design principles becomes critical to product success. This second edition includes coverage of emerging applications beyond traditional VR.
Buy Read reviews
Jeremy Bailenson · 2018
Experience on Demand: What Virtual Reality Is, How It Works, and What It Can Do
Spatial computing will be worn for hours daily; understanding its cognitive and psychological impact on users—attention, presence, dissociation—is essential for responsible product design and policy.
Buy Read reviews
Matthew Ball · 2022
The Metaverse: And How It Will Revolutionize Everything
Ball's framing of the metaverse as the next internet—not escapist fantasy—provides the strategic context for understanding why spatial computing platforms (visionOS, Horizon OS, Android XR) are central to tech giants' long-term bets.
Buy Read reviews
Neal Stephenson · 1992
Snow Crash
The foundational fiction that inspired the sector's language and vision. Every operator should understand the original Stephenson vision to distinguish between hype and genuine platform shifts in spatial computing.
Buy Read reviews
Vernor Vinge · 2006
Rainbows End
Vinge's narrative explores the near-term reality of AR as a consumer platform—the smart glasses future that Meta and others are actively building—more prescriptively than the metaverse abstractions in Snow Crash.
Buy Read reviews
Dieter Schmalstieg and Tobias Höllerer · 2016
Augmented Reality: Principles and Practice
As AR glasses become the consumer-facing edge of spatial computing, understanding the hardware constraints (optics, latency, field of view) and design tradeoffs is essential for realistic product planning.
Buy Read reviews
Ernest Cline · 2011
Ready Player One
Contemporary touchstone for how mass market narratives frame spatial computing and VR adoption. Operators should understand both its appeal (engagement, agency) and critique (inequality, disconnection) to design responsibly.
Buy Read reviews
Jason Jerald · 2016
The VR Book: Human-Centered Design for Virtual Reality
Most VR/spatial computing failures stem from UX, not technology. Jerald's principles on presence, comfort, and natural interaction are foundational to shipping products users actually want to wear.
Buy Read reviews
David J. Chalmers · 2022
Reality+: Virtual Worlds and the Problems of Philosophy
As spatial computing becomes primary interface to digital life, Chalmers frames the existential stakes: Are virtual worlds second-class? Can meaningful life happen there? These questions shape policy, ethics, and long-term user adoption.
Buy Read reviews
Irena Cronin and Robert Scoble · 2024
The Infinite Retina: Navigate Spatial Computing, Augmented and Mixed Reality, and the next tech revolution
The most current market commentary on spatial computing as a business platform. Second edition (2024) includes Vision Pro impact analysis and AI integration, essential for operators building products against today's competitive landscape.
Buy Read reviews

Graveyard

Lynx
Entered compulsory liquidation in early 2026 and its long-promised R2 headset will never ship. Lynx raised only about $6.8M across its entire life and shipped just a few hundred units of the R-1; by the CEO's own later admission it had effectively halted production two years before the end, leaving Kickstarter backers with neither headsets nor refunds. A textbook case of XR hardware's punishing economics — world-class optics ambition couldn't overcome chronic undercapitalization, a brutal supply chain, and rivals spending billions.
Obituary