Beringea, a Farmington Hills-based private equity firm, along with Intel Capital, co-led a $15.2 million funding round for portfolio company InContext Solutions, which focuses on virtual reality solutions for retailers and manufacturers.
InContext Solutions, based in Chicago, produces enterprise virtual reality shopping and retail solutions, allowing manufacturers and retailers to simulate real in-store shopping situations within a virtual reality store environment to test and evaluate ideas.
The investment will help the company accelerate sales and marketing efforts, expand its geographic footprint, and improve its virtual reality product portfolio, including the further development of solutions for head-mounted devices.
“InContext Solutions’ collaboration with Intel to develop new VR solutions will help retailers and manufacturers more rapidly visualize, test, and deploy new concepts using hyper-realistic simulations of actual retail environments,” says Mark Donnelly, director of Beringea. “This new capital will allow the company to introduce new customers to its flagship ShopperMXTM VR platform, providing optimal in-store shopper experiences that lower risk and improve the bottom line.”
Beringea provides equity and/or mezzanine debt to growth-oriented companies in the U.S. and the United Kingdom (London office). The firm, which has operations in Michigan and the U.K., invests in companies operating in a variety of industries, including healthcare, IT, advanced manufacturing, media, and specialized consumer products.