iQ3Connect Receives Seed Investment from NOVA Prime Fund
WOBURN, Mass., Oct. 31, 2023 /PRNewswire/ — iQ3Connect, a provider of a web-based immersive training and collaboration platform, today announced a seed round of funding through the NOVA Prime Fund, a venture capital fund created by global innovator LG Electronics.
iQ3Connect provides a web-based solution that empowers individuals, teams and enterprises to create, deploy, collaborate and learn with immersive and interactive 3D content on any VR, AR, PC or mobile device. Transforming immersive 3D into a scalable tool for enterprises, iQ3Connect offers a Training and Experience Platform that enables companies to rapidly create and deploy interactive virtual training and an Immersive Collaboration Platform, which provides a multi-user virtual workspace for companies. iQ3Connect also offers a host of services, from training and experience creation to hosting and management.
The NOVA Prime Fund is focused on investing in mission-driven companies innovating in sustainable energy, digital health, and industries of the future. LG NOVA, LG Electronics’ North America Innovation Center, serves as a contributing source to the NOVA Prime Fund for investments as a part of its Mission for the Future program, an initiative to build the future through cross-industry collaboration between startups and LG. As part of this investment, Jinhwan An from the LG NOVA team will join the iQ3Connect board of directors.
“The NOVA Prime Fund is committed to accelerating innovation for good to build a better future for people,” said Ali Diallo, Managing Partner at NOVA Prime Fund. “This strategic investment will help iQ3Connect advance their mission to help companies use their 3D platform and the metaverse to sustainably train the workforce of the future.”
“We share LG’s vision for the future,” said Ali Merchant, CEO of iQ3Connect. “Through our technology, our customers are advancing innovation at scale to make their organizations more efficient, sustainable, and competitive. Thanks to NOVA Prime Fund and their investment, even more organizations will be able to take advantage of the opportunity our 3D immersive platform offers.”
Founded in 2017, iQ3Connect is already deployed in numerous Global 2000 companies. As an example, a world leader in semiconductor and display manufacturing equipment is using iQ3Connect for customer support, manufacturing technician training, and knowledge transfer between different locations. They have trainers/SMEs creating and using multi-user virtual classrooms for training at scale.
One of the world’s largest oilfield services companies is scaling iQ3Connect for remote meetings for design and manufacturing teams and on-site construction planning, as well as operations and safety training for employees. Additionally, the Yokogawa Bridge Corporation, one of Japan’s top five fabricators and erectors of steel structures for bridges and buildings, uses a full-scale 3D bridge model with the iQ3Connect Platform to enable structure and design reviews in immersive 3D.
“We believe in the power of immersive technology to reshape the training industry, and iQ3Connect is at the forefront of this revolution,” said Ella Hood, Managing Director of Cherrystone Angel Group, an early investor in iQ3Connect. “Their web-based platform is versatile, scalable and addresses critical pain points in corporate training and team collaboration. As businesses worldwide prioritize upskilling their workforce, iQ3Connect’s Training and Experience Platform is poised for widespread adoption, presenting an immense growth opportunity.”
About NOVA Prime Fund
NOVA Prime Fund is a venture capital fund with a target of more than $100M and an objective of investing in private companies focused on clean energy, digital health, immersive AI, and industries of the future. The Fund will invest in high-growth technology companies and seek to accelerate them in collaboration with LG NOVA. Aligned on innovating for a better life, NOVA Prime Fund’s portfolio companies will be predominantly sourced from the Mission for the Future corporate acceleration program, led by LG NOVA, LG Electronics North America Center of Innovation. NOVA Prime Fund will focus on investing in mission-driven companies working towards solutions for a sustainable future for people and the planet.
About iQ3Connect
iQ3Connect provides a web-based solution empowering individuals, teams, and enterprises to create, deploy, collaborate, and learn with immersive and interactive 3D content on any VR, AR, PC, or mobile device. iQ3Connect is on a mission to transform immersive 3D into a scalable and pervasive communication tool for enterprises to save time, reduce cost, and achieve sustainable operations. www.iq3connect.com
