Writer: Dylan Bruton
2 min read April 2024 — Tampa Bay has developed a reputation for technology and innovation in recent years, with the region becoming a major player in the $60 billion global virtual reality (VR) market. From the medical field to the baseball diamond, VR is slowly permeating different use cases that could benefit Tampa Bay residents and businesses.
Immertec, a Tampa-based VR startup focused on creating an immersive training platform in healthcare, recently closed a $4 million series A extension deal as the company works to achieve profitability in an emerging space.
“This is a tough time for a lot of companies, and it could have gone the other way with Immertec,” said company CEO Erik Maltais, as cited by Tampa Bay Inno. “Through the participation of new investors and existing investors who believe in our mission, we’re now in a position where the likelihood of failing is much lower, and we have an extended runway for two-plus years.”
The software company has also received nearly $20 million through multiple grants, including initiatives to enhance rural medical training with the USF Health Center for Advanced Medical Learning and Simulation and facilitate firsthand experiences with orthopedic surgery through the University of Michigan medical school’s educational pilot program.
The region’s sports franchises are also getting into the VR fold. In 2023, the Tampa Bay Rays made history alongside the Los Angeles Angels by hosting the very first regular season “virtual ballpark” game.
The Rays have been ahead of the curve by using virtual reality to assist them in batting practice back in 2016 — contributing to the team securing five straight playoff bids in the last five seasons.
Companies in the Tampa Bay region are also playing a supporting role in launching leading VR products.
Last October Clearwater-headquartered TD Synnex announced that it had become the exclusive North American distributor of Meta’s business-related products, including the Meta Quest 3 VR headset. According to the Tampa Bay Business Journal, the companies have worked together for over five years and evolved from retail consumer electronics to the business-to-business side.
Tampa Bay is in a prime position to lead future growth in the VR and broader extended reality (XR) market as startups and organizations find new use cases and raise awareness for next-generation technologies.
For more information, please visit:
https://www.tdsynnex.com
https://www.meta.com
https://www.immertec.com
