XM Reality brings in SEK 20M, stays on course for IPO plans.

XMReality, a Sweden-based remote guidance solution provider, raised SEK 20M ($2.24M) in a new private investement round. The money comes from the existing investors, led by Almi Invest, and is a bridge towards the future public listing of the company.

XMReality, based in Linköping and led by CEO Johan Castevall, was founded in 2007 by researchers from FOI, The Swedish Defence Research Agency.

Early on, the company carried out advanced contract research in the fields of augmented and mixed reality on behalf of the Swedish Defence Materiel Administration (FMV) and BAE Systems. Since 2012 the company has focused serving a global industrial segment with solutions for efficient field service.