Bryan Garnier & Co supports rooom in financing round of 17 million euros

Jena-based 3D software company rooom raises 17 million euros in a successful financing round with the support of Bryan, Garnier & Co, while the market for metaverse and virtual reality solutions is experiencing a dip in transactions.

Jena/Munich - Jena-based rooom AG has raised 17 million euros in a successful financing round, supported by the investment bank Bryan, Garnier & Co. This consortium of institutional investors, led by Marondo Capital, a Munich-based financial investor, also includes growth capital providers such as Technologiegründerfonds Sachsen (TGFS), bm-t Beteiligungsmanagement Thüringen and existing investors.

Hans Elstner and his team have developed a technology for creating 3D content that is competitive worldwide. Users can explore virtual worlds and 3D objects using only their smartphones, without special apps or virtual reality glasses

Sebastian Schirl, Managing Director at Bryan, Garnier & Co

rooom AG, founded in 2016, offers software solutions for the creation of 3D content and digital experiences in augmented and virtual reality, particularly in the emerging metaverse. Its customers include companies such as Deutsche Telekom, BMW, Zeiss, porta and Bosch. The Jena-based company currently employs around 100 people and reaches more than six million users across 120 countries.

Given the slowdown in transaction momentum in the market for metaverse, augmented and virtual reality solutions, this financing round is a success. According to data from Bryan, Garnier & Co, around €25 billion was raised in transactions in 2021 and 2022, but the number of transactions has fallen significantly since the end of 2022. In the first half of 2023, around €2 billion was raised in 542 transactions.

Market for future metaverse solutions

"The initial hype around the metaverse has died down, but the market for virtual experiences is still active. Many companies in this field are still in the early stages. rooom is one of the companies that is already successfully marketing its solutions," commented Schirl. Gartner, a global IT research and advisory company, has already recognized rooom as a "Top Management Solution Provider" and "Cool Vendor".

The management consultancy Bain & Company predicts that the market for metaverse solutions and virtual experiences could reach a volume of 700 to 900 billion US dollars by 2030. The coming years will show which companies can hold their own in this market. The Bryan, Garnier & Co deal team consisted of Falk Müller-Veerse, Sebastian Schirl, Berk Kirca, Alexander Reinauer and Paul Hirsch.

Bryan, Garnier & Co is an investment bank specializing in European growth companies. With over 200 employees in six offices in Europe and the USA, the company offers financing advice throughout the life cycle of its clients - from the first financing round through to a potential sale or IPO. The bank advises on an average of around 70 transactions per year, focusing on growth sectors such as technology, healthcare and sustainability. Bryan, Garnier & Co is registered as a broker with the AMF and FCA in Europe and FINRA in the USA.