V

Varjo

High-end enterprise VR, AR, XR headsets

Overview

Varjo Technologies makes professional XR hardware and software for enterprise use, offering high-end VR, AR, and XR headsets designed for industries such as aerospace, automotive, and medicine. The headsets are tethered and use a Bionic Display that concentrates very high resolution in the center of the field of view, along with eye- and hand-tracking, LiDAR for mixed reality, and high-quality video pass-through. It pairs this hardware with a software ecosystem, including Varjo Reality Cloud for streaming and sharing immersive 3D environments, and provides enterprise software and consulting services. Varjo differentiates itself by delivering an end-to-end enterprise solution with ultra-clear foveated visuals and a combined hardware, software, and services model aimed at large organizations needing precise visualization and training tools, with the goal of enabling accurate, high-detail visualization and simulation for professional training, design, and research at scale.

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About Varjo

Simplify's Rating
Why Varjo is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

ConsultingHardwareVR & AREnterprise Software

Company Size

201-500

Company Stage

Grant

Total Funding

$183.2M

Headquarters

Helsinki, Finland

Founded

2016

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What believers are saying

  • October 29, 2026 Finnish Defence Forces collaboration validates XR-4 for urgent drone threats.
  • June 16, 2026 Ukrainian Armed Forces deployments broaden Varjo’s battlefield credibility and references.
  • Rheinmetall’s XR-4 integration and REISER qualification expand Varjo into aviation and vehicle training.

What critics are saying

  • Varjo’s defense-heavy business depends on procurement cycles from NATO buyers and Finnish agencies.
  • XR-4 Finland manufacturing in 2027 risks delays, yield problems, and customer shipment slippage.
  • If defense demand slows, Varjo loses its only clear commercial moat and revenue engine.

What makes Varjo unique

  • Varjo’s XR-4 powers Finnish Defence Forces counter-UAS training on October 29, 2026.
  • Varjo onshores XR-4 production in Espoo during 2027, tightening security and control.
  • Varjo serves 120-plus NATO and allied defense programs with offline, ISO 27001-certified headsets.

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Funding

Total Funding

$183.2M

Meets

Industry Average

Funded Over

10 Rounds

Grant funding comparison data is currently unavailable. We're working to provide this information soon!
Grant Funding Comparison Coming Soon

Benefits

  • Health Insurance
  • Life Insurance
  • Disability Insurance

Growth & Insights and Company News

6 month growth

-1%

1 year growth

0%

2 year growth

0%
EDR Magazine
Oct 30th, 2026
Finnish Defence Forces and Varjo announce collaboration - new technology for counter-UAS training.

Finnish Defence Forces and Varjo announce collaboration - new technology for counter-UAS training. The Finnish Defence Forces Innovation Unit and VR/XR company Varjo are collaborating to test and develop virtual solutions for counter-UAS training. Helsinki, Finland - October 29, 2026 - The partnership between the Defence Forces and Varjo reflects the growing need to prepare for drone threats. The war in Ukraine has shown that First Person View (FPV) micro-drone systems and loitering munitions constitute a constant threat. Soldiers on the battlefield must understand the effects of drones and know how to operate under threat. Training solutions must be realistic, repeatable and readily available. The Defence Forces and Varjo are piloting and developing virtual training solutions which aim at improving soldiers' counter-UAS readiness. Varjo is cooperating with a Defence Forces brigade-level unit. The project deploys the Varjo XR-4 Series mixed reality headset, which provides visual clarity sufficient for training to counter even a five-inch FPV drone from realistic distances. Preparations for this partnership started in February 2026. "The drone threat is one of the critical challenges of the modern battlefield, and training must keep up with the changes", says Timo Toikkanen, CEO of Varjo. "Partnership with the Defence Forces makes it possible to improve training and make it match operational needs. We are proud to see Finnish technology at the forefront of this work." The battlefield is changing rapidly, and new technologies are becoming ever more important. The Defence Forces' coordinated innovation activity is doing its share in responding to the changes, seeking, testing and working on new solutions together with its partners. "We at our end are also proud of our partnership with Varjo. Virtual technology offers a possibility to train and prepare for drone threats in a realistic and repeated manner without consuming real resources. This partnership brings together a real operational need and Finnish technology. This pilot gives us valuable insights into how virtual training can be put into even better use in the Finnish military training", said Major Ville Kuparinen, Head of the FDF Innovation Unit.

Aviation Defence Universe
Oct 30th, 2026
Finnish Defence Forces and Varjo announce collaboration - new technology for counter-UAS training.

Finnish Defence Forces and Varjo announce collaboration - new technology for counter-UAS training. * The Finnish Defence Forces Innovation Unit and VR/XR company Varjo are collaborating to test and develop virtual solutions for counter-UAS training. Helsinki, Finland - October 29, 2026 - The partnership between the Defence Forces and Varjo reflects the growing need to prepare for drone threats. The war in Ukraine has shown that First Person View (FPV) micro-drone systems and loitering munitions constitute a constant threat. Soldiers on the battlefield must understand the effects of drones and know how to operate under threat. Training solutions must be realistic, repeatable and readily available. The Defence Forces and Varjo are piloting and developing virtual training solutions which aim at improving soldiers' counter-UAS readiness. Varjo is cooperating with a Defence Forces brigade-level unit. The project deploys the Varjo XR-4 Series mixed reality headset, which provides visual clarity sufficient for training to counter even a five-inch FPV drone from realistic distances. Preparations for this partnership started in February 2026. "The drone threat is one of the critical challenges of the modern battlefield, and training must keep up with the changes", says Timo Toikkanen, CEO of Varjo. "Partnership with the Defence Forces makes it possible to improve training and make it match operational needs. We are proud to see Finnish technology at the forefront of this work." The battlefield is changing rapidly, and new technologies are becoming ever more important. The Defence Forces' coordinated innovation activity is doing its share in responding to the changes, seeking, testing and working on new solutions together with its partners. "We at our end are also proud of our partnership with Varjo. Virtual technology offers a possibility to train and prepare for drone threats in a realistic and repeated manner without consuming real resources. This partnership brings together a real operational need and Finnish technology. This pilot gives us valuable insights into how virtual training can be put into even better use in the Finnish military training", said Major Ville Kuparinen, Head of the FDF Innovation Unit. Published in UAVs

The Defence Blog
Oct 26th, 2026
Finland and Varjo test virtual counter-drone training for soldiers.

Finland and Varjo test virtual counter-drone training for soldiers. Oct 29, 2026 Modified date: Oct 29, 2026 Varjo XR-4 mixed reality headset during counter-UAS training development with the Finnish Defence Forces, Oct. 29, 2026. Key Points * The Finnish Defence Forces and Varjo are piloting mixed reality counter-drone training with a brigade-level unit using XR-4 Series headsets. * Varjo says the headset can show a five-inch FPV drone clearly enough for training at realistic distances, with preparations starting in February 2026. The Finnish Defence Forces have teamed up with Helsinki-based headset maker Varjo to test and develop mixed reality training that prepares soldiers to spot and counter small attack drones, the military's Innovation Unit and the company announced on Oct. 29. Varjo is working with a brigade-level unit of the Finnish Defence Forces on the pilot, using its XR-4 Series mixed reality headset. The partners did not name the unit, say how many headsets are involved or how long the pilot will run, or disclose any contract value. Preparations for the partnership began in February. The project is aimed at the threat from first-person-view, or FPV, drones and loitering munitions, the small explosive-carrying drones and one-way attack weapons that both sides have used in huge numbers in Ukraine. The Finnish Defence Forces said soldiers need to understand what drones can do and how to operate under that threat, and that training has to be realistic, repeatable and readily available. - ADVERTISEMENT - CONTINUE READING BELOW - Discover more Military news subscription Land forces analysis Defense technology insights Mixed reality headsets use outward-facing cameras to show the wearer the real world around them, then add computer-generated objects into that view. In this case, that lets soldiers practice detecting and engaging virtual drones in a real training environment without flying actual drones. Varjo said the XR-4's image is sharp enough to train against a five-inch FPV drone, a common size class named for its propellers, at realistic distances, which matters because such drones are hard to see until they are close. "The drone threat is one of the critical challenges of the modern battlefield, and training must keep up with the changes," said Timo Toikkanen, CEO of Varjo. "Partnership with the Defence Forces makes it possible to improve training and make it match operational needs. We are proud to see Finnish technology at the forefront of this work." "We at our end are also proud of our partnership with Varjo. Virtual technology offers a possibility to train and prepare for drone threats in a realistic and repeated manner without consuming real resources. This partnership brings together a real operational need and Finnish technology. This pilot gives us valuable insights into how virtual training can be put into even better use in the Finnish military training," said Maj. Ville Kuparinen, Head of the FDF Innovation Unit. Varjo's headsets are already used across European militaries and defense companies, mostly for vehicle and flight simulators. In March, Varjo and Norwegian firm Fynd Reality began fielding 39 XR training systems in Ukraine for Leopard 2A4 tank crews and other armored vehicle training, paid for by Norway's defense materiel agency. In June, Varjo said it had added a counter-drone simulator to the training gear it supplies to the Ukrainian Armed Forces. Rheinmetall also builds Varjo's XR-4 into its deployable land training simulators. Corrections and feedback If you identify a factual or grammatical error in this article, please report it using its corrections form. Executive Editor Support the reporting you read Your contribution helps Defence Blog produce independent defense news and analysis.

Military Embedded Systems
Jun 16th, 2026
Virtual- and mixed-reality training solutions on display from Varjo.

Virtual- and mixed-reality training solutions on display from Varjo. June 16, 2026 Assistant Managing Editor Military Embedded Systems PARIS-EUROSATORY 2026. Training-solution provider Varjo is showcasing advanced mixed-reality military training solutions - including an F-16 cockpit, Leopard 2, and counter-uncrewed aerial system (UAS) simulators - at the Eurosatory 2026 exhibition, now underway in Paris. The company reports that it has delivered an immersive, realistic, and interoperable XR simulator (extended- or mixed-reality) to Ukraine's armed forces; the environment is designed to train soldiers for counter-UAS operations. Developed by Australian technology company Applied Virtual Simulation as a direct response to the war in Ukraine, the counter-UAS simulator Horizon Guardian is integrated with Varjo's XR-4 Series headset and involves one trainee flying a first-person-view (FPV) UAS, while another attempts to neutralize it with a firearm. According to Varjo, now that UASs account for 70% to 80% of casualties in Ukraine, the simulator is designed to replicate the pressures, sounds, and pace of the front line. Another of Varjo's offerings is a product developed with Czech company Dogfight Boss, which aims to deliver a complete F-16 mixed-reality cockpit simulator, accompanied by a Varjo XR-4 Series headset, to Ukraine. The simulator, says Varjo officials, enables early-stage pilot training to take place in-country, while also providing a platform for pilots to rehearse and revise complex maneuvers and operations. "The continuously evolving battlefield tactics and technology deployed in the Ukraine war has underscored the need for training capabilities that are integrated into a military's operational infrastructure to ensure that personnel are training for the realities of today's conflicts, rather than those of the past," said Timo Toikkanen, CEO of Varjo. Eurosatory attendees may visit the Varjo booth in Hall 6, booth A75.

Bloomberg
Apr 20th, 2026
Finnish Defense Technology Duo Are Said to Weigh Helsinki IPOs

Two Finnish defense technology providers are putting together plans to go public, looking to tap equity markets as Europe ramps up military spending.

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