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

Jena-based 3D software company rooom raises €17 million in successful funding round backed by Bryan, Garnier & Co as the market for metaverse and virtual reality solutions experiences a transactional dip.

Jena/Munich, Germany - Jena-based rooom AG has raised €17 million in a successful financing round, backed by 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 3D content creation technology that is globally competitive. Users can explore virtual worlds and create 3D objects using only their smartphones, without the need for special apps or virtual reality glasses.

Sebastian Schirl, Managing Director at Bryan, Garnier & Co.

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

Given a slowing transaction momentum in the market for metaverse, augmented and virtual reality solutions, this funding 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 dropped 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 virtual experience market remains active. Many companies in this space are still in their infancy. rooom is one of the companies already successfully marketing its solutions," commented Schirl. Gartner, a global IT research and advisory firm, has already recognized rooom as a "Top Management Solution Provider" and "Cool Vendor."

Consulting firm Bain & Company predicts that the market for metaverse solutions and virtual experiences could reach $700 billion to $900 billion by 2030. The coming years will show which companies can compete 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 U.S., the company provides financing advice along the lifecycle of its clients - from the first round of financing to a potential sale or IPO. The bank supports 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 the FCA in Europe and FINRA in the US.