What are the most valued startups in the XR market?

Last updated: 13 July 2026

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market research pitch 2026 statistics XR market

In our XR market deck, you will find everything you need to understand the market

The XR market includes startups building smart glasses, virtual reality hardware, spatial computing software, immersive training systems and specialized medical applications.

This ranking tracks the most valuable XR startups using reported valuations, funding transactions, acquisitions, operating metrics and comparable company data.

We update this list every month to reflect new funding rounds, acquisitions, market developments and changes in company performance.

And if you want to better understand this new industry, you can download our pitch covering the XR market.

A quick summary table

Metric Value
Most valuable XR startup Sesame, $1.7B–$3.1B
Second most valuable XR startup XPANCEO, $1.3B–$1.4B
Median XR startup valuation Approximately $48M
Share of XR valuation captured by the top 10 Approximately 65%
Top XR startup valuation vs. median Approximately 50 times higher
Median XR valuation-to-capital-raised ratio Approximately 2.5 times
XR startups valued at $1B+ 5 based on valuation midpoints
Market map chart showing top companies and startups in the XR market

This market map, featured in our XR market deck, highlights top companies and startups in the XR market

Top startups in the XR market ranked by valuation

Here is an updated table that ranks the top startups in the XR market based on their latest reported or estimated valuations.

If you want more detaild about their fundraising activity, you can check our list of the startups who have raised the most funding in the XR market.

# Startup Name What They Do Current Valuation ($) Valuation Confidence Level Valuation Type Evidence Status Total Funding ($) Funding Confidence Level
1 Sesame AI smart glasses assistant $1.7B–$3.1B Partial Confidence Implied Valuation from Raise Implied $298M Strong Confidence
2 XPANCEO Smart contact lens platform $1.3B–$1.4B Strong Confidence Announced Private Round Valuation Observed $32M Low Confidence
3 RayNeo Consumer AI AR glasses $900M–$1.8B Partial Confidence Implied Valuation from Raise Implied $225M Partial Confidence
4 XREAL Consumer AR glasses $900M–$1.2B Strong Confidence IPO or Listing Range Valuation Estimated $215M Strong Confidence
5 Rokid AI AR smart glasses $900M–$1.1B Partial Confidence IPO or Listing Range Valuation Estimated $285M Partial Confidence
6 VITURE XR glasses for gaming $700M–$1.2B Partial Confidence Implied Valuation from Raise Implied $56M Partial Confidence
7 Mojo Vision MicroLED display technology $500M–$900M Partial Confidence Implied Valuation from Raise Implied $246M Strong Confidence
8 Magic Leap Enterprise AR hardware $500M–$900M Partial Confidence Proxy-Based Estimate Estimated $2.9B Strong Confidence
9 VRChat Social virtual worlds platform $350M–$600M Partial Confidence Comparables-Based Estimate Estimated $95M Partial Confidence
10 Varjo Enterprise XR headsets $250M–$450M Partial Confidence Comparables-Based Estimate Estimated $171M Strong Confidence
11 INMO AI AR smart glasses $275M–$290M Strong Confidence Announced Private Round Valuation Observed $94M Partial Confidence
12 Immersed VR workspace platform $200M–$300M Partial Confidence Active Raise Valuation Observed $6M Low Confidence
13 Augmodo Spatial AI retail badges $185M–$315M Partial Confidence Implied Valuation from Raise Implied $43M Full Confidence
14 IXI Autofocus adaptive eyewear $180M–$305M Partial Confidence Implied Valuation from Raise Implied $37M Strong Confidence
15 Neurable Consumer brain-computer interfaces $175M–$295M Partial Confidence Implied Valuation from Raise Implied $65M Partial Confidence
16 Augmedics AR spine surgery navigation $180M–$280M Partial Confidence Acquisition Value Estimated $144M Strong Confidence
17 Osso VR VR surgical training platform $180M–$280M Partial Confidence Comparables-Based Estimate Estimated $109M Strong Confidence
18 TRANSFR VR workforce skills training $170M–$230M Partial Confidence Revenue or ARR Multiple Estimate Estimated $90M Strong Confidence
19 XRSpace Social metaverse XR platform $120M–$240M Low Confidence Implied Valuation from Raise Estimated $125M Partial Confidence
20 MediView XR AR surgical imaging navigation $120M–$200M Strong Confidence Implied Valuation from Raise Implied $44M Full Confidence
21 TechSee Visual AI remote support $115M–$190M Partial Confidence Revenue or ARR Multiple Estimate Estimated $54M Full Confidence
22 Proprio AI surgical visualization system $130M–$160M Strong Confidence Comparables-Based Estimate Estimated $74M Strong Confidence
23 AmazeVR Produces immersive virtual concerts $110M–$180M Partial Confidence Comparables-Based Estimate Estimated $60M Strong Confidence
24 RealWear Industrial assisted-reality headsets $100M–$180M Partial Confidence Revenue or ARR Multiple Estimate Estimated $237M Strong Confidence
25 STRIVR Enterprise immersive workforce training $110M–$170M Partial Confidence Comparables-Based Estimate Estimated $86M Strong Confidence
26 Tilt Five Tabletop AR gaming $90M–$170M Partial Confidence Implied Valuation from Raise Implied $21M Strong Confidence
27 Sandbox VR Location-based immersive VR gaming $110M–$150M Strong Confidence Comparables-Based Estimate Estimated $119M Strong Confidence
28 Pimax High-end VR headsets $90M–$160M Partial Confidence Revenue or ARR Multiple Estimate Estimated $79M Partial Confidence
29 Loft Dynamics Certified VR flight simulators $115M–$135M Strong Confidence Announced Private Round Valuation Observed $44M Strong Confidence
30 Safe Dynamics Provides RF safety training systems $80M–$150M Low Confidence IPO or Listing Range Valuation Estimated $32M Partial Confidence
31 nDreams Develops and publishes VR games $110M Full Confidence Acquisition Value Observed $47M Strong Confidence
32 FundamentalVR Haptic VR surgical simulation $70M–$140M Partial Confidence Comparables-Based Estimate Estimated $28M Strong Confidence
33 XYZ Reality AR construction delivery platform $80M–$110M Strong Confidence Revenue or ARR Multiple Estimate Estimated $35M Full Confidence
34 Interplay Learning Immersive skilled-trades training $75M–$110M Partial Confidence Revenue or ARR Multiple Estimate Estimated $46M Partial Confidence
35 Bigscreen Lightweight VR headsets $60M–$120M Low Confidence Comparables-Based Estimate Estimated $14M Full Confidence
36 Holo-Light Enterprise XR pixel-streaming software $75M–$105M Strong Confidence Implied Valuation from Raise Implied $33M Partial Confidence
37 Zero Latency Free-roam VR entertainment venues $70M–$110M Partial Confidence Acquisition Value Estimated $6M Partial Confidence
38 Avegant XR optics systems $50M–$100M Low Confidence Comparables-Based Estimate Estimated $73M Partial Confidence
39 HaptX Realistic haptic VR gloves $50M–$100M Low Confidence Comparables-Based Estimate Estimated $54M Strong Confidence
40 Resolution Games Multiplayer XR game studio $60M–$90M Partial Confidence Comparables-Based Estimate Estimated $39M Full Confidence
41 Mursion Human-led workplace simulations $65M–$85M Strong Confidence Revenue or ARR Multiple Estimate Estimated $41M Partial Confidence
42 Medivis AR surgical navigation software $55M–$90M Partial Confidence Revenue or ARR Multiple Estimate Estimated $22M Full Confidence
43 frontline.io Industrial XR training platform $50M–$83M Strong Confidence Implied Valuation from Raise Implied $10M Strong Confidence
44 bHaptics Wearable haptic feedback devices $45M–$80M Partial Confidence Implied Valuation from Raise Implied $15M Strong Confidence
45 Ultraleap Hand tracking and haptics $30M–$90M Low Confidence Acquisition Value Estimated $166M Strong Confidence
46 ImmersiveTouch Provides XR surgical planning $45M–$65M Partial Confidence Proxy-Based Estimate Estimated $1M Partial Confidence
47 XRHealth XR virtual healthcare platform $40M–$65M Partial Confidence Revenue or ARR Multiple Estimate Estimated $27M Partial Confidence
48 Strolll AR neurological rehabilitation software $49M–$55M Strong Confidence Announced Private Round Valuation Observed $16M Partial Confidence
49 AjnaLens XR smart glasses hardware $48M–$55M Partial Confidence Announced Private Round Valuation Observed $4M Low Confidence
50 VoxelSensors XR 3D perception sensors $35M–$65M Partial Confidence Implied Valuation from Raise Implied $10M Strong Confidence
51 Scope AR Enterprise AR work instructions $35M–$65M Low Confidence Acquisition Value Estimated $12M Strong Confidence
52 ArborXR Enterprise XR device management $42M–$58M Partial Confidence Revenue or ARR Multiple Estimate Estimated $35M Partial Confidence
53 Survios Premium virtual-reality game studio $40M–$60M Partial Confidence Revenue or ARR Multiple Estimate Estimated $71M Strong Confidence
54 Fast Travel Games Develops and publishes VR games $40M–$60M Partial Confidence Revenue or ARR Multiple Estimate Estimated $10M Strong Confidence
55 Emteq Facial sensing smart eyewear $40M–$50M Partial Confidence Active Raise Valuation Observed $6M Low Confidence
56 Upskill Enterprise AR workflow software $30M–$60M Low Confidence Acquisition Value Estimated $53M Partial Confidence
57 SideQuest Independent VR application marketplace $35M–$55M Partial Confidence Implied Valuation from Raise Implied $16M Strong Confidence
58 Dreamscape Immersive Venue-based immersive VR experiences $35M–$55M Partial Confidence Revenue or ARR Multiple Estimate Estimated $92M Partial Confidence
59 Felix & Paul Studios Cinematic immersive content studio $35M–$55M Low Confidence Revenue or ARR Multiple Estimate Estimated $7M Partial Confidence
60 Polyarc Develops narrative VR games $38M–$48M Strong Confidence Comparables-Based Estimate Estimated $18M Full Confidence
61 Emerge Bare-hand virtual touch $25M–$60M Low Confidence Comparables-Based Estimate Estimated $31M Strong Confidence
62 Thirdverse Multiplayer virtual-reality game studio $35M–$50M Partial Confidence Implied Valuation from Raise Implied $42M Partial Confidence
63 Brilliant Labs AI smart glasses $25M–$50M Low Confidence Proxy-Based Estimate Estimated $8M Low Confidence
64 XR Games Virtual reality game developer $30M–$45M Partial Confidence Comparables-Based Estimate Estimated $14M Strong Confidence
65 VRAI Analyzes data from training simulations $30M–$45M Strong Confidence Implied Valuation from Raise Implied $10M Partial Confidence
66 ShapesXR Collaborative spatial-design platform $28M–$42M Partial Confidence Revenue or ARR Multiple Estimate Estimated $9M Full Confidence
67 Wave Interactive virtual concert platform $25M–$45M Low Confidence Proxy-Based Estimate Estimated $43M Partial Confidence
68 TRIPP Immersive mental-wellness platform $28M–$42M Partial Confidence Comparables-Based Estimate Estimated $26M Strong Confidence
69 CUREosity VR rehabilitation therapy platform $28M–$42M Partial Confidence Revenue or ARR Multiple Estimate Estimated $9M Partial Confidence
70 Pixee Medical AR orthopedic surgery navigation $25M–$40M Partial Confidence Revenue or ARR Multiple Estimate Estimated $17M Strong Confidence
71 LIV Mixed-reality creator tools $25M–$40M Partial Confidence Comparables-Based Estimate Estimated $13M Partial Confidence
72 Talespin Immersive workforce learning technology $25M–$40M Low Confidence Acquisition Value Estimated $40M Full Confidence
73 ForeVR Games Casual social VR games $25M–$38M Low Confidence Comparables-Based Estimate Estimated $19M Strong Confidence
74 Lynx Mixed reality headsets $20M–$40M Low Confidence Proxy-Based Estimate Estimated $6M Partial Confidence
75 Taqtile AR frontline work instructions $20M–$40M Low Confidence Comparables-Based Estimate Estimated $9M Partial Confidence
76 Sense Arena VR sports training platform $22M–$35M Partial Confidence Comparables-Based Estimate Estimated $6M Partial Confidence
77 Mira Lightweight augmented reality headsets $20M–$35M Low Confidence Acquisition Value Estimated $17M Partial Confidence
78 SentiAR AR cardiac procedure visualization $20M–$34M Partial Confidence Implied Valuation from Raise Implied $16M Partial Confidence
79 Campfire 3D AR collaboration platform $15M–$35M Low Confidence Proxy-Based Estimate Estimated $8M Full Confidence
80 SenseGlove Force-feedback haptic VR gloves $18M–$30M Partial Confidence Implied Valuation from Raise Implied $6M Partial Confidence
81 Arthur AI-powered immersive collaboration $18M–$30M Partial Confidence Comparables-Based Estimate Estimated $6M Strong Confidence
82 Condense Live volumetric video streaming $18M–$30M Low Confidence Comparables-Based Estimate Estimated $5M Partial Confidence
83 Aircards Enterprise immersive experience studio $18M–$27M Strong Confidence Implied Valuation from Raise Implied $4M Full Confidence
84 PrecisionOS VR orthopedic surgical training $15M–$28M Low Confidence Comparables-Based Estimate Estimated $2M Full Confidence
85 Almer Technologies Industrial augmented reality glasses $15M–$25M Low Confidence Acquisition Value Estimated $12M Strong Confidence
86 ManageXR Enterprise XR device management $15M–$22M Partial Confidence Revenue or ARR Multiple Estimate Estimated $4M Full Confidence
87 Manus XR motion-capture gloves $10M–$25M Low Confidence Proxy-Based Estimate Estimated $3M Low Confidence
88 Alta Develops multiplayer VR games $10M–$20M Low Confidence Comparables-Based Estimate Estimated $12M Full Confidence
89 Bodyswaps AI soft-skills simulations $12M–$17M Strong Confidence Comparables-Based Estimate Estimated $1M Partial Confidence
90 Nanome VR molecular design software $11M–$18M Partial Confidence Revenue or ARR Multiple Estimate Estimated $4M Partial Confidence
91 Rec Room Social user-generated gaming platform $8M–$20M Low Confidence Acquisition Value Estimated $294M Partial Confidence
92 VictoryXR Immersive education and career training $10M–$18M Partial Confidence Comparables-Based Estimate Estimated $3M Partial Confidence
93 RETìníZE VR animation production software $10M–$16M Strong Confidence Implied Valuation from Raise Implied $4M Strong Confidence
94 Immertec Remote immersive medical training $9M–$14M Partial Confidence Revenue or ARR Multiple Estimate Estimated $16M Partial Confidence
95 The Wild Immersive AEC collaboration software $6M–$15M Low Confidence Acquisition Value Estimated $3M Full Confidence
96 Virti AI immersive workforce training $7M–$12M Partial Confidence Revenue or ARR Multiple Estimate Estimated $12M Partial Confidence
97 Glue Enterprise virtual collaboration platform $3M–$7M Low Confidence Acquisition Value Estimated $4M Strong Confidence
Chart comparing the 2026 size of the XR market with other markets of similar size

This chart, featured in our XR market deck, compares the 2026 size of the XR market with other markets of similar size

Key valuation trends in the XR market

Insights

  • The top 10 XR startups represent about 65% of the combined midpoint valuation in this ranking, showing that investor value remains concentrated around smart glasses, optics and premium XR hardware.
  • Sesame’s estimated $2.4B midpoint valuation is roughly 50 times the median XR startup valuation, which illustrates the wide gap between the leading smart-glasses companies and the broader market.
  • Consumer XR hardware attracts the largest valuations, but specialized enterprise applications often use capital more efficiently because customers can connect XR products to measurable productivity, safety or healthcare outcomes.
  • MediView XR, Proprio and Loft Dynamics hold approximately $430M in combined midpoint valuation after raising $162M, suggesting durable investor interest in regulated and mission-critical XR applications.
  • MediView XR and Proprio have a combined midpoint valuation of about $305M on $118M of funding, equal to roughly 2.6 times invested capital across surgical XR navigation.
  • frontline.io has a midpoint valuation equal to about 6.7 times its funding, showing that focused industrial XR software can create meaningful value with less capital than hardware businesses.
  • Aircards has a valuation-to-funding ratio of about 5.6 times, which suggests that service-led immersive experience companies can scale without relying on very large venture rounds.
  • Sandbox VR has raised $119M against a midpoint valuation of approximately $130M, highlighting the capital requirements and physical operating costs associated with location-based VR entertainment.
  • XREAL’s midpoint valuation is close to five times its $215M funding base, a much stronger capital multiple than many XR companies with manufacturing, venue or hardware infrastructure requirements.
  • XYZ Reality’s midpoint valuation of approximately $95M equals about 2.7 times its funding, reinforcing construction AR as a credible commercial category rather than a purely experimental productivity tool.
  • nDreams and Polyarc show similar valuation-to-funding ratios of approximately 2.3 and 2.4 times, suggesting relatively consistent pricing among established VR game studios.
  • Software-oriented companies such as frontline.io, Aircards and RETìníZE collectively reach a valuation-to-funding ratio of about 5.1 times, above the broader XR market median.
Chart showing XREAL’s strategy in the XR market

This chart, featured in our XR market deck, looks at XREAL’s strategy in XR

A few word about our methodology

As you can see, we built a database that ranks startups in the XR market based on their current valuation.

Estimating XR startup valuations is not always straightforward. Many companies do not publicly disclose their valuation, and the available information can vary widely depending on the company and its stage.

To build this XR startup ranking, we applied a structured valuation methodology and cross-checked information across multiple reliable sources.

Whenever possible, we relied on direct disclosures. These include announced valuations from completed funding rounds, public filings for listed companies, or official acquisition prices.

When an XR company is publicly listed, we use its current market capitalization as the reference valuation.

If an XR startup was acquired and no independent valuation can reasonably be estimated today, we use the acquisition price as the main reference point.

When a startup recently raised capital but the valuation was not disclosed, we estimate the implied valuation using typical dilution levels for that stage of fundraising.

In some cases, we also estimate XR startup valuations using operating metrics such as revenue, ARR, hardware sales, enterprise contracts or customer traction, combined with valuation multiples from comparable companies.

When direct financial data is not available, we may rely on carefully selected comparable startups and other signals such as hiring growth, investor quality, product launches, developer adoption or commercial traction.

All estimates follow a strict evidence hierarchy. Recent funding rounds with announced valuations carry the most weight, followed by strong operating metrics and comparable company analysis.

We also carefully evaluate the age of every XR market data point. Recent information carries more weight, while older data is treated cautiously and adjusted conservatively when necessary.

Whenever information is uncertain or incomplete, we clearly distinguish between confirmed facts and reasonable inferences.

Because XR valuation data is not always fully public, each startup in the ranking is assigned a confidence level based on the reliability, recency and consistency of the available evidence.

Full confidence means the valuation is supported by strong and recent evidence. Strong confidence means the estimate is well supported but includes minor inference. Partial confidence means the estimate relies more heavily on indirect signals. Low confidence means available information is limited or inconsistent.

When confidence is lower, we take a more conservative approach by widening the valuation range. This helps reflect the uncertainty and increases the probability that the true valuation falls within the estimated range.

This reflects how we conduct all our research, including the work behind our report covering the XR market.

In a world where LLMs hallucinate and unreliable information is everywhere, our goal is simple: provide data you can trust.

If you want the full detail on a specific valuation estimate, feel free to contact us and we will gladly explain.

Finally, know that we update the dataset once per month, so come back here if you need fresh information.

Chart showing the projected CAGR of the XR market

This chart, featured in our XR market deck, illustrates yearly funding for XR startups

Related blog posts

- The most recent news in the XR market

- The most recent funding news in the XR market

- What has changed recently in the XR market?

- The evolution of funding activity in the XR market

- The main fundraising trends in the XR market

- How big is the XR market in reality?

- The full range of business models in the XR market

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