Validation and funding to fuel V-Labs growth

The last months have been insightful for V-Labs. The Geneva startup worked successfully on a pilot project with Romande Energie, gaining precious insights on the work of its clients and how its technology is used in the field. Speaking of this opportunity V-Lab’s CEO Diemer Cohen Stuart is very grateful: “We really appreciated the collaboration and we would like to thank them very much for this great opportunity. Romande Energie strongly believes in our technology and has already signed up for several licenses once our product is finished. Romande Energie also made a video on the project, which generated important visibility for our company.”


Today V-Labs is ready to take its growth to the next level. The company managed to get a significant angel investment of 500’000 CHF which perfectly aligns with its goals for 2020 to bring its product to the market. Furthermore as the CEO explains, the private investors bring in great complementary skills with respect to the business. For example, they have long term experience in IT-technology, utilities and construction sector and finance. They bring in a great deal of valuable knowledge for V-Labs which is perfect for developing the right strategies for the company. The funding will be mainly used to grow the team, finish the beta-version of its product and start ramping up sales. The company also took the opportunity to transform from Sàrl to SA as it aims to strongly accelerate its business in 2021.

 

 

In order to develop and validate its technology, V-Labs has worked on 10+ large pilot projects with for example utilities and engineering firms such as Romande Energie (CH), Evides Waterbedrijf (NL) and Basler & Hofmann (CH). Based on these pilots, the company has been able to develop a client-oriented solution that will be game-changing for operators in the field such as surveyors and contractors. These pilots also allowed the augmented reality startup to attract many new prospects in Switzerland, but also in the rest of Europe, that are waiting for V-Labs to finalize its product.

Having tested its product with multiple clients in the field and seen clear interest from the market sectors targeted, V-Labs is getting ready to bring its innovative augmented reality solution to the market in Q1-Q2 2020. The startup supported by Fongit and Innosuisse’s Core Coaching Program aims to start a Round A investment later this year, in order to further accelerate and scale up its business in 2021.   

(ES)