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Varjo
Information
Type Private
Industry Virtual Reality
Founded 2016 in Helsinki, Finland
Founder Niko Eiden, Klaus Melakari, Urho Konttori, Roope Rainisto
Headquarters Vuorikatu 20, 00100 Helsinki, Finland; Arlington, Virginia, USA
Notable Personnel Timo Toikkanen (CEO since 2020)[1], Patrick Wyatt (CPO), Valentin Storz (CRO), former: Niko Eiden (Co-Founder; CEO until 2020, then CXO), Urho Konttori (Co-Founder; CEO, later CPO and CTO), Klaus Melakari (Co-Founder, CTO), Roope Rainisto (Co-Founder), Jussi Mäkinen (CMO)[2]
Products Varjo XR-4 Series, Varjo XR-4 Focal Edition, Varjo XR-4 Secure Edition, Integrated XR System, Varjo Base, Teleport by Varjo, Teleport Secure; discontinued: Varjo Aero, Varjo XR-3, Varjo VR-3, Varjo Reality Cloud
Parent None
Website varjo.com
See also: Companies

Varjo Technologies Oy (commonly referred to as Varjo) is a Finnish manufacturer of high-resolution virtual reality and mixed reality headsets and related software for professional and enterprise use, based in Helsinki.[3] The name means "shadow" in Finnish and is pronounced like "vario".[4] Founded in 2016 by product leaders and engineers with backgrounds at Nokia, Microsoft and NVIDIA, the company first became known for headsets that it marketed as having "human-eye resolution".[3][5]

As of October 2026, Varjo's hardware line is the Varjo XR-4 Series of tethered PC mixed reality headsets, announced in November 2023 and refreshed in October 2025, plus the XR-4 Secure Edition and bundled "Integrated XR Systems".[6][7][8] Its online webstore closed on 8 October 2025, and headsets are now sold to businesses through a sales request form, without public list prices.[9] The company describes itself as focused on defense and aerospace training and simulation and says its technology is used in more than 120 defense programs worldwide.[3] Its earlier Varjo VR-3, Varjo XR-3 and Varjo Aero headsets are discontinued, and their Varjo Base software support ended on 1 January 2026.[10] Timo Toikkanen has been chief executive officer since August 2020.[11][12]

According to the company's case studies, Varjo headsets have been used to train Boeing Starliner astronauts and nuclear power plant control room operators.[13][14] In its 2022 Series D announcement Varjo said that 25% of Fortune 100 companies used its hardware and software, and it named Volvo Cars, Lockheed Martin, Boeing, Aston Martin, Kia and departments of the United States and European governments as customers.[15] In 2024, 98% of its revenue came from outside Finland.[16]

Reviewed 17 October 2026. Re-opened the cited Varjo releases, support and developer pages, press reports and the Stein et al. 2021 paper for every new or changed date, price, spec, funding figure and status claim About review dates.

History

Founding and early development

Varjo was founded in 2016 and is based in Helsinki, Finland.[5] Its co-founders were:

  • Urho Konttori - Co-founder; he was Varjo's chief executive officer in 2017 and 2018;[17][5] he was listed as chief product officer at AWE EU 2019[18] and in 2020[19] and as chief technology officer by 2021.[20] He later co-founded Distance Technologies, where he is CEO; CNBC described him in 2024 as Varjo's former chief technology officer.[21] His AWE speaker biography says he spent more than 15 years designing, engineering and managing large hardware and software projects at Microsoft and Nokia, including leading operating system development for the Nokia N9 and N900.[18]
  • Klaus Melakari - Co-founder, named as chief technology officer in August 2020 coverage of the Series C round;[19] by June 2021 he was chief technology officer of the eyewear start-up Pixieray,[22] and Konttori held Varjo's CTO title later that year.[20]
  • Niko Eiden - Co-founder; CEO by early 2019[23] until August 2020, when he became Chief Experience Officer (CXO) and remained a board member.[11] By June 2021 he was CEO of the eyewear start-up Pixieray and was described as having previously worked at Varjo;[22] the company, renamed IXI, is a Helsinki-based developer of autofocus eyeglasses that he still led as CEO in 2025[24]
  • Roope Rainisto - Co-founder. A 2025 speaker profile for Aalto University's Games Now! event describes him as one of Varjo's founders, with a 25-year career as a professional designer leading UX design for smartphones and virtual reality; it says he now leads the creative AI lab team at Supercell and has focused full time on AI since 2021.[25]

Varjo came out of stealth in mid-2017. MIT Technology Review, which tried an early prototype, reported that the company had existed for less than a year. The prototype was a modified Oculus Rift in which an angled glass plate, an optical combiner, merged a small, sharp micro-OLED image with the headset's normal display; the sharp region covered about 5 percent of the field of view, and the prototype had no eye tracking.[4] Road to VR described the same "20|20" prototype as using two 0.7-inch Sony micro-OLED displays at 3,000 pixels per inch, covering about 20 degrees, with a lower-resolution display for the rest of a claimed 100-degree field of view. At that time Varjo planned to ship professional products starting in late Q4 2017.[17] The team included optical scientists, designers and developers who had held senior positions at Microsoft, Nokia, Intel, Nvidia and Rovio.[17]

Product development and market entry

The company's first head-mounted display, Varjo VR-1, launched on 19 February 2019 at US$5,995 and was sold directly to enterprise customers. It combined a 1920 x 1080 micro-OLED panel and a 1440 x 1600 AMOLED panel for each eye in what Varjo calls the "Bionic Display", and it had integrated eye tracking. Varjo claimed a resolution greater than 60 pixels per degree (PPD) in the central area.[26] On 15 October 2019 it announced the Varjo VR-2 at US$4,995 and the Varjo VR-2 Pro at US$5,995, both sold with software and support services starting at US$795. Both added support for SteamVR content, and the VR-2 Pro had integrated Ultraleap hand tracking.[27] Varjo's first mixed reality device, the Varjo XR-1 Developer Edition, was shipping by December 2019 at about US$10,000, plus a mandatory one-year software and support package of US$1,995. It used two 12-megapixel cameras for video pass-through and had an 87-degree field of view.[28]

The third-generation products, Varjo XR-3 and Varjo VR-3, were announced on 1 December 2020, with shipments beginning in early 2021. Both had a 115-degree horizontal field of view, a 27 x 27-degree focus area at 70 PPD on a micro-OLED panel, a peripheral LCD area above 30 PPD, 200 Hz eye tracking and Ultraleap Gemini (v5) hand tracking. Only the XR-3 had LiDAR depth sensing. The XR-3 cost US$5,495 with a required one-year subscription from US$1,495; the VR-3 cost US$3,195 with a subscription from US$795.[29][30] The Varjo Aero, announced in October 2021 as a US$1,990 PC VR headset with 2880 x 2720 pixels per eye, was aimed mainly at commercial buyers, but Varjo also targeted enthusiasts using simulators such as Microsoft Flight Simulator.[31] In September 2023 Varjo permanently cut the Aero's price by half, to US$990 (EUR 990), not including SteamVR base stations or controllers.[32]

The XR-4 Series was announced on 27 November 2023 in three versions: the XR-4, the XR-4 Focal Edition and the XR-4 Secure Edition. Varjo said shipments would begin by the end of 2023.[6][33] In October 2025 Varjo released a refreshed XR-4 Series with a redesigned fit, an optional chin strap, a front plate compatible with SteamVR Tracking, night mode, hand occlusion and gaze-predictive AI passthrough, and it guaranteed hardware and software support through 2030. The company said the headsets were then offered to industrial and government customers in more than 40 countries.[7]

Leadership changes and expansion

In August 2020 Timo Toikkanen, previously president and COO of Varjo, was appointed CEO, while co-founder and previous CEO Niko Eiden became chief experience officer and remained on the board.[34][11] Patrick Wyatt was appointed chief product officer in 2022, leading software and cloud development.[15] Valentin Storz was chief revenue officer in 2025 and 2026.[35][36]

At the time of its October 2018 Series B round Varjo had about 80 hardware and software employees and planned to grow to more than 200 within a year.[37] In 2026 its website describes a staff of more than 180 professionals, with its headquarters in Helsinki and offices in Arlington, Virginia, and Unterföhring near Munich, Germany.[3]

On 24 June 2021 Varjo announced that it was acquiring Dimension10, a Norwegian company that makes 3D and BIM collaboration tools and a virtual meeting suite for architecture, engineering and construction teams. It announced the acquisition together with its Varjo Reality Cloud platform.[38] In the 2022 Series D announcement, CEO Timo Toikkanen said that "the vision for a true-to-life metaverse for professionals is already here".[15]

Defense focus (2024-2026)

By August 2024 the FAA had qualified a VR helicopter simulator built by Loft Dynamics around the Airbus H125, which uses Varjo VR-3 headsets; UploadVR reported that it is fully virtual rather than mixed reality.[39][40] In March 2025 the UK Ministry of Defence accredited Inzpire's CASE JTAC simulator, which uses XR-4 Series headsets, for NATO competency training of joint terminal attack controllers.[41] In June 2025 BRUNNER Elektronik's NOVASIM MR DA42, a Diamond DA42 simulator with an XR-4 Focal Edition headset used by Lufthansa Aviation Training, was qualified to EASA standards as a Flight and Navigation Procedures Trainer II under special conditions.[42] In November 2025 the REISER H145 D3 mixed reality helicopter simulator, using XR-4 Series headsets, received Flight Training Device Level 3 pre-qualification from Germany's Federal Aviation Office (LBA) under EASA special conditions.[43] HeliOps reported in April 2026 that the LBA had certified the simulator as a Flight Training Device Level 3 (FTD-3).[44]

The Greek defense company THEON made a EUR 5 million minority investment in August 2025 as a convertible loan, with an option to invest another EUR 5 million on the same terms.[45] In October 2025 Varjo announced a EUR 44 million research and development program for its next mixed reality platform, aimed at training for aircraft, naval vessels, armoured vehicles and other ground systems, supported by a EUR 12 million grant from Business Finland. At that time it said it was a partner in more than 100 defense and aviation programs.[16] In November 2025 Rheinmetall and Varjo agreed to integrate XR-4 Series headsets into Rheinmetall's deployable virtual land training systems for European and NATO forces.[35]

In January 2026 Varjo's information security management system was certified to ISO/IEC 27001:2022 by KPMG.[46] In February 2026 it began selling Integrated XR Systems, bundles of an XR-4 Series headset, a certified workstation from SCHENKER or RAVE Computer and pre-installed software for air-gapped sites.[8] In March 2026 Varjo said that Norway's Fynd Reality had bought XR-4 Secure Edition headsets for 39 XR training systems for the Ukrainian Armed Forces, covering vehicles including the Leopard 2 A4 tank, in a project worth NOK 82.5 million funded by Norway's Nansen Program.[47] In April 2026 it agreed a partnership with the Irish simulation data company VRAI, which became an authorized Varjo reseller while Varjo began offering VRAI's HEAT performance analytics software.[36] At Eurosatory in June 2026 Varjo announced that Applied Virtual Simulation's Horizon Guardian counter-drone simulator, integrated with the XR-4 Series, had been delivered to Ukraine's armed forces; an F-16 mixed reality cockpit simulator built by Dogfight Boss with an XR-4 Series headset had been delivered there in 2024.[12]

Products

Current product line

Varjo current hardware (October 2026)
Model Type Key features Announced Launch price
Varjo XR-4 Mixed reality Two mini-LED displays at 3840 x 3744 per eye, 51 PPD, 120° x 105° field of view, two 20 MP passthrough cameras (33 PPD passthrough), 300k-pixel LiDAR, inside-out and SteamVR tracking[48][49] 27 November 2023 US$3,990 / EUR 3,990[33]
Varjo XR-4 Focal Edition Mixed reality Gaze-driven autofocus passthrough cameras, up to 51 PPD passthrough[49] 27 November 2023 US$9,990 / EUR 9,990[33]
Varjo XR-4 Secure Edition Mixed reality TAA-compliant, made in Finland in Varjo's own facility, can run offline and be configured without radio components[49][48] 27 November 2023 Road to VR reported US$8,000 and US$14,000 for the two Secure configurations[6]
Integrated XR System Bundle XR-4, XR-4 Focal Edition or XR-4 Secure Edition headset, Varjo-certified workstation, pre-installed software and offline licenses[8] 26 February 2026 From EUR 24,990 (XR-4) and EUR 29,990 (XR-4 Focal Edition)[8]

Since the webstore closed on 8 October 2025, Varjo lists no public prices; businesses order through a sales form and individual buyers of accessories are referred to resellers.[9]

Varjo XR-4 Series

The Varjo XR-4 series is the company's current generation of mixed reality headsets. It uses two mini-LED displays with 3840 x 3744 pixels per eye, 51 PPD and a 120° x 105° field of view, which MIXED described as about 50% wider than the previous generation.[48][33] Its LiDAR sensor has 300,000 pixels and a 7-meter range, and MIXED reported its resolution as eight times that of the XR-3's.[48][33] The headsets support inside-out tracking without external beacons as well as optional SteamVR Tracking, and the controllers were made with Razer.[6] Unlike the XR-3, the standard XR-4 did not require an annual support charge at launch.[6]

The XR-4 series includes three versions:

  • Varjo XR-4 - The standard model, whose passthrough camera system Varjo rates at 33 PPD[49]
  • Varjo XR-4 Focal Edition - Adds what Varjo calls the first gaze-driven autofocus camera system, for passthrough of up to 51 PPD[49]
  • Varjo XR-4 Secure Edition - TAA-compliant headsets made in Finland, offered without radio components or online connectivity requirements[49][48]

Legacy products

Product Announced or released Type Launch price Key features
Varjo VR-1 19 February 2019 VR headset US$5,995[26] First "Bionic Display": 1920 x 1080 micro-OLED and 1440 x 1600 AMOLED per eye, more than 60 PPD claimed, integrated eye tracking[26]
Varjo VR-2 15 October 2019 VR headset US$4,995[27] SteamVR content support, OpenVR at up to 40 PPD per eye[27]
Varjo VR-2 Pro 15 October 2019 VR headset US$5,995[27] Integrated Ultraleap hand tracking[27]
Varjo XR-1 Developer Edition Shipping December 2019 Mixed reality headset About US$10,000 plus US$1,995 support[28] Video pass-through with two 12 MP cameras, 87° field of view[28]
Varjo VR-3 1 December 2020 VR headset US$3,195 plus subscription[29] 70 PPD focus area, 115° horizontal field of view, 200 Hz eye tracking; support ended 1 January 2026[29][10]
Varjo XR-3 1 December 2020 Mixed reality headset US$5,495 plus subscription[29] As VR-3, plus LiDAR and RGB fusion depth sensing (40 cm to 5 m) and video pass-through; support ended 1 January 2026[29][10]
Varjo Aero October 2021 VR headset US$1,990; US$990 from September 2023[31][32] 2880 x 2720 per eye mini-LED, 115° horizontal field of view, 90 Hz, 200 Hz eye tracking, no front cameras; support ended 1 January 2026[31][10]

Varjo says it is permanently sold out of the XR-3, VR-3 and Aero. Varjo Base 4.14 is the last version compatible with them; owners can keep using these headsets with that version or earlier without a license or login, while warranty coverage is unaffected.[10]

Software and services

Varjo Base

Varjo Base is the companion software for Varjo headsets and is offered in Free and Pro tiers.[49] From version 4.15 (May 2026) it supports only XR-4 Series headsets, and that release changed how Pro licenses are handled. Varjo said Pro features would stop working if the update was not made by 9 May 2026, and it published hotfixes 4.14.1 and 4.13.2 for users who could not move to 4.15.[50] Version 4.16, released on 22 July 2026, added ranged depth occlusion for all objects and a beta people-occlusion mode, and took the Varjo command-line interface out of beta.[51] The Varjo Native SDK and Varjo OpenXR SDK reached version 4.16.0 on 25 June 2026.[52]

Varjo Reality Cloud

Varjo Reality Cloud was the company's XR streaming platform. It was unveiled on 24 June 2021 as a way to scan a space with an XR-3 headset and bring another person into it, with alpha access for existing customers later that year.[38] Varjo's Series D announcement in September 2022 described it as the XR streaming platform announced in April 2022.[15] Reviewing it in April 2022, Ubergizmo reported that it rendered content such as Autodesk VRED scenes on AWS servers and streamed it to headsets, laptops and mobile devices over a connection of about 35 Mbps.[53] In May 2024 Varjo said it would stop developing Reality Cloud as of June 2024, because enterprise requirements for XR cloud streaming were "more diverse and security-driven than originally anticipated", and that it would instead support third-party and local streaming.[54]

Teleport by Varjo

Teleport lets users scan real places with an iPhone or iPad and turn them into 3D scenes that can be viewed on a phone or PC, in Varjo headsets or in other PC VR headsets. Road to VR reported that it is based on Gaussian splatting, with models processed in the cloud and rendered on the viewing device.[55] It became generally available on 25 November 2024 at EUR 29.99 per month, ending a closed beta with about 2,000 professionals and enterprises.[56] Teleport 2.0, launched in April 2025, added an upgraded reconstruction engine, support for any camera including drones and DSLRs, virtual tours and linked scans; a free account can create and share up to five scenes, and the Professional Plan costs EUR 29.99 per month.[57]

Teleport Secure and Varjo Alpha

Teleport Secure is an on-premise version for defense users that turns drone or camera footage into navigable 3D environments for mission planning, rehearsal and training. Varjo says the whole pipeline runs on hardware the customer controls, with no cloud or external connection, and that environments are ready one to six hours after ingestion.[58] Varjo Alpha is the company's professional services offering, in which its solutions engineers help customers integrate and optimize XR systems.[49]

Technology

Human-eye resolution and Bionic Display

Varjo's early headsets were built around what the company calls "human-eye resolution". Its Bionic Display placed a small, very dense micro-OLED "focus" display in the center of view inside a wider, lower-resolution "context" display, so that the area the user looks at directly is much sharper than the periphery.[17][4] On the VR-1 the context display was a 1440 x 1600 AMOLED panel;[26] on the XR-3 and VR-3 it was an LCD above 30 PPD around a 70 PPD micro-OLED focus area.[29] The Varjo Aero dropped the two-layer design for one 2880 x 2720 mini-LED panel per eye,[31] and the XR-4 Series also uses one mini-LED display per eye, at 3840 x 3744 pixels and 51 PPD.[6][48]

Eye tracking

The VR-1 already had integrated eye tracking, which Varjo described as accurate enough for interaction and training analytics and usable for foveated rendering.[26] The XR-3, VR-3 and Aero tracked gaze at 200 Hz.[29][31] On the XR-4 Series, gaze tracking runs at 100 Hz by default with the native SDK and 200 Hz by default with the OpenXR and Unity XR SDKs, and automatic IPD adjustment covers 56 to 72 mm.[59][48]

Mixed reality capabilities

Varjo's mixed reality headsets use video pass-through: cameras on the front record the surroundings and the image is shown on the internal displays together with virtual content. The XR-1 used two 12-megapixel cameras,[28] the XR-3 added LiDAR and RGB fusion depth sensing with a range of 40 cm to 5 m,[29] and the XR-4 Series uses two 20-megapixel cameras with up to 51 PPD, gaze-driven autofocus on the Focal Edition, night mode, hand occlusion and chroma key compositing.[48][49]

Hand tracking and other tracking

The VR-2 Pro, XR-3 and VR-3 used built-in Ultraleap hand tracking.[27][29] On 22 April 2025 Varjo introduced integrated hand tracking for the XR-4 Series in Varjo Base 4.10 as a free beta feature. It uses the headset's passthrough cameras and its time-of-flight depth sensor with a machine learning model trained by Varjo, runs on the CPU and supports the OpenXR hand tracking and hand interaction extensions; the Ultraleap Leap Motion Controller 2 remains compatible.[60] In August 2026 Varjo announced native support in Varjo Base for Polhemus VIPER electromagnetic tracking on the XR-4, aimed at motion platforms and moving vehicles where optical tracking can confuse platform motion with head motion.[61]

Applications and industries

Training and simulation

Varjo's headsets are used across several professional training sectors:

Industry Applications Examples
Aviation Pilot training, flight simulation Loft Dynamics H125 VR simulator with VR-3 headsets, qualified by the FAA in 2024;[40] BRUNNER NOVASIM MR DA42 for Lufthansa Aviation Training (EASA FNPT II, 2025);[42] REISER H145 D3 (FTD Level 3 pre-qualification, 2025; FTD-3 certification reported in April 2026)[43][44]
Space Astronaut training Boeing Starliner crew training from pre-launch to docking and landing, with the XR-1 listed in Varjo's case study[13]
Defense Military training, tactical simulation Inzpire CASE JTAC (NATO competency accreditation, 2025);[41] Slovenian Armed Forces SWIFT and AS532 Cougar simulators built by AFormX with XR-4 Series headsets;[62] Ukrainian Armed Forces vehicle and counter-drone training[47][12]
Automotive and design Design review, virtual prototyping Airbus, Audi, Lilium, Saab, Sellen, Volkswagen and Volvo Cars named as customers in 2018;[37] Volvo Cars, Aston Martin and Kia named as customers in 2022[15]
Industrial Equipment operation, safety training Fortum's VR training room for control room operators at the Loviisa nuclear power plant in Finland[14]
Research Academic studies, human factors University of Maryland Extended Reality Flight Simulation and Control Lab, which uses XR-3 and XR-4 headsets[63]

Notable case studies

  • University of Maryland's Flight Simulation and Control Lab, directed by Umberto Saetti in the Department of Aerospace Engineering, uses Varjo headsets with Prepar3D and BRUNNER motion platforms for research on flight dynamics, haptic cueing, galvanic vestibular stimulation and pilot workload measured with fNIRS and EEG, including OpenBCI's Galea headset[63]
  • Slovenian Armed Forces adopted VR/XR simulators built by AFormX with Varjo XR-4 Series headsets, delivered in November 2024, using a digital twin of Slovenia in X-Plane[62]
  • Boeing Starliner Programme uses Varjo headsets to augment astronaut training, replicating each phase of commercial crew missions to the International Space Station[13]

Research use

Varjo headsets have been used as instruments in academic studies. In a 2021 paper in i-Perception, Stein and colleagues measured eye tracking latency in three commercial headsets against electrooculography. The Varjo VR-1 had an eye tracker delay of about 36 ms and an end-to-end latency of 57 ms, compared with 15 ms and 45 ms for the Fove-0 and about 50 ms and about 80 ms for the HTC Vive Pro Eye; the authors judged the Fove-0 and VR-1 latencies more suitable for gaze-contingent experiments than the Vive's.[64]

Enterprise customers

Organizations that Varjo or reporting have named as customers or early partners include:

  • Airbus, Audi and Volkswagen, which had early access to prototypes in 2018[5]
  • Boeing, for Starliner astronaut training[13]
  • Lockheed Martin, Aston Martin and Kia[15]
  • Siemens[11]
  • Volvo Cars, also an investor through its tech fund[11][15]
  • Fortum[14]
  • Various U.S. and European government departments[15]

Funding and investment

Varjo has raised venture capital, debt and grant funding in several rounds since 2017. Road to VR, citing Crunchbase, put the total at US$162.5 million after the 2022 Series D.[65]

Investment timeline

Round Date Amount Lead investors Notable participants
Series A September 2017 US$8.2 million[66] EQT Ventures Lifeline Ventures, The Venture Reality Fund, John Lindfors, Foobar Technologies, Presence Capital, Bragiel Bros, Sisu Game Ventures[66]
Series B October 2018 US$31 million Atomico Next47, EQT Ventures, Lifeline Ventures[37]
Series C August 2020 US$54 million Tesi, NordicNinja, Swisscanto Invest Atomico, EQT Ventures, Lifeline Ventures, Volvo Cars Tech Fund[11]
Venture debt November 2021 (signed) EUR 20 million European Investment Bank Non-dilutive venture debt for research and development[67]
Series D September 2022 US$40 million (about EUR 41 million) Not named EQT Ventures, Atomico, Volvo Car Tech Fund, Lifeline Ventures, Mirabaud, Foxconn[15]
Round extension November 2024 Not disclosed Not named Beyond Capital, Nishikawa Communications, NVIDIA[56]
Strategic investment August 2025 EUR 5 million convertible loan, option for EUR 5 million more THEON None named[45]
Grant October 2025 EUR 12 million Business Finland Toward a EUR 44 million R&D program[16]

The Series B brought total funding to US$46 million and the Series C to about US$100 million.[5][11]

Key investors

  • Atomico - Led the 2018 Series B[37]
  • EQT Ventures - Led the 2017 Series A and joined later rounds[66][15]
  • Lifeline Ventures - Took part in every equity round from the Series A to the Series D[66][15]
  • Volvo Cars Tech Fund - Strategic automotive investor[11]
  • Foxconn and Mirabaud - New strategic investors in the Series D[15]
  • NVIDIA - Joined the round extended in November 2024[56]
  • Tesi - Co-led the 2020 Series C[11]
  • THEON - Greek maker of night vision and thermal imaging systems, listed on Euronext Amsterdam, which invested in 2025[45]

Partnerships and collaborations

Technology partnerships

  • Software platforms: Varjo says its headsets are fully compatible with Unity, Unreal Engine and OpenXR 1.0 and with professional software including Autodesk VRED, Lockheed Martin Prepar3D, VBS Blue IG and FlightSafety Vital, and that it supports SteamVR applications. Its list of Varjo-ready software also includes DCS, Microsoft Flight Simulator, Assetto Corsa, Half-Life: Alyx, Gravity Sketch and Siemens NX Virtual Reality.[68]
  • Hardware partners: Ultraleap (hand tracking on the VR-2 Pro, XR-3 and VR-3),[27][29] Razer (XR-4 controllers),[6] Polhemus (VIPER electromagnetic tracking)[61] and SCHENKER and RAVE Computer (workstations in the Integrated XR Systems)[8]
  • Cloud infrastructure: Amazon Web Services for the discontinued Varjo Reality Cloud platform[53]
  • Simulation and training partners: Rheinmetall,[35] Fynd Reality,[47] VRAI,[36] Inzpire,[41] BRUNNER Elektronik[42] and REISER[43]

Strategic collaborations

  • Automotive and aerospace industry: Airbus, Audi, Volkswagen and Volvo Cars were among the companies working with Varjo on its first product in 2018[37]
  • Defense: In November 2025 Rheinmetall agreed to use XR-4 Series headsets in its modular driving and weapons simulators, and the two companies showed an XR truck driving simulator at I/ITSEC 2025[35]

Corporate structure

Company operations

Varjo operates from three locations:[3]

  • Helsinki, Finland - Headquarters (Vuorikatu 20)
  • Arlington, Virginia, USA - U.S. office
  • Unterföhring (Munich), Germany - German office

The company is a Finnish osakeyhtiö (Oy), a limited liability company, and is privately held. The XR-4 Secure Edition is made in Varjo's own manufacturing facility in Finland.[49]

Awards and recognition

Industry recognition

  • Fast Company's "World's Most Innovative Companies" - Named in the Virtual Reality and Augmented Reality category in 2023 and again on the 2025 list[69][70]
  • Lumiere Award (2019) - The XR-1 Developer Edition received a 2019 Entertainment Technology Lumiere Award from the Advanced Imaging Society[71]
  • Auggie Awards (2022) - "Best Headworn Device" for Varjo Aero at Augmented World Expo in Santa Clara[72]
  • NATO Accreditation - Inzpire's CASE JTAC simulator with Varjo XR-4 Series headsets was accredited by the UK Ministry of Defence for NATO JTAC competency training (March 2025)[41]
  • FAA qualification - Loft Dynamics' H125 VR simulator, which uses Varjo VR-3 headsets, was qualified by the FAA in 2024[39][40]

Professional certifications

  • EASA simulator qualification - BRUNNER NOVASIM MR DA42 with XR-4 Focal Edition, qualified as FNPT II under special conditions (June 2025)[42]
  • TAA Compliance - XR-4 Secure Edition is offered in configurations that meet Trade Agreements Act requirements[7]
  • ISO/IEC 27001:2022 - Information security management certification, issued by KPMG in January 2026[46]

Future developments

Industrial metaverse vision

In 2022 Varjo said its Series D funding would go toward research and development of cloud services, mainly Varjo Reality Cloud, and toward expanding its software and hardware in design, manufacturing, engineering, education and healthcare.[15] It stopped developing Reality Cloud in June 2024.[54]

Next-generation platform

The R&D program announced in October 2025 is meant to advance Varjo's next-generation mixed reality platform for training on fixed-wing and rotary aircraft, naval vessels, armoured vehicles and other ground systems.[16] Varjo has guaranteed hardware and software support for the XR-4 Series through 2030.[7]

See also

References

  1. ↑ Lisa Daigle (2026-06-16). "Virtual- and mixed-reality training solutions on display from Varjo". Military Embedded Systems. https://militaryembedded.com/unmanned/counter-uas/virtual-and-mixed-reality-training-solutions-on-display-from-varjo. Retrieved 2026-10-13.
  2. ↑ "Founders". Distance Technologies. https://distance.tech/founders. Retrieved 2026-10-13.
  3. ↑ 3.0 3.1 3.2 3.3 3.4 "About Us - World Leader in Industrial-Grade VR and XR". Varjo. https://varjo.com/company/. Retrieved 2026-10-17.
  4. ↑ 4.0 4.1 4.2 Rachel Metz (2017-06-19). "This Startup Is Making Virtual and Augmented Reality So Crisp It Looks Real". MIT Technology Review. https://www.technologyreview.com/2017/06/19/151150/this-startup-is-making-virtual-and-augmented-reality-so-crisp-it-looks-real/. Retrieved 2026-10-17.
  5. ↑ 5.0 5.1 5.2 5.3 5.4 Steve O'Hear (2018-10-07). "Atomico leads $31M Series B in Varjo, the Finnish startup developing 'human-eye resolution' VR and XR". TechCrunch. https://techcrunch.com/2018/10/07/varjo/. Retrieved 2026-10-13.
  6. ↑ 6.0 6.1 6.2 6.3 6.4 6.5 6.6 Ben Lang (2023-11-27). "Varjo Reveals XR-4 Headset, Claiming Mixed Realty Visuals "indistinguishable from natural sight"". Road to VR. https://roadtovr.com/varjo-xr-4-announcement-specs-price-release-date/. Retrieved 2026-10-17.
  7. ↑ 7.0 7.1 7.2 7.3 "Varjo Launches Mixed Reality Headsets Purpose-Built for Training Across Air, Land, and Sea". Varjo. 2025-10-08. https://varjo.com/news/varjo-launches-mixed-reality-headsets-purpose-built-for-training-across-air-land-and-sea. Retrieved 2026-10-17.
  8. ↑ 8.0 8.1 8.2 8.3 8.4 "Varjo Launches Ready-to-Deploy XR Systems for Secure and Air-Gapped Environments". Varjo. 2026-02-26. https://varjo.com/news/varjo-launches-ready-to-deploy-xr-systems-for-secure-and-air-gapped-environments. Retrieved 2026-10-17.
  9. ↑ 9.0 9.1 "Varjo Webstore closing down October 8, 2025". Varjo. https://varjo.com/webstore. Retrieved 2026-10-17.
  10. ↑ 10.0 10.1 10.2 10.3 10.4 "What does end-of-support for older-generation models XR-3, VR-3, and Varjo Aero mean?". Varjo Support. https://support.varjo.com/hc/en-us/end-of-support-for-older-generation-models-xr-3-vr-3-and-varjo-aero. Retrieved 2026-10-17.
  11. ↑ 11.0 11.1 11.2 11.3 11.4 11.5 11.6 11.7 11.8 Steve O'Hear (2020-08-12). "Industrial-grade VR company Varjo picks up $54M in Series C funding". TechCrunch. https://techcrunch.com/2020/08/12/varjo-series-c/. Retrieved 2026-10-13.
  12. ↑ 12.0 12.1 12.2 "Varjo expands supply of multi-domain training capabilities to Ukrainian Armed Forces to include C-UAS simulator". Varjo. 2026-06-16. https://varjo.com/news/varjo-expands-supply-of-multi-domain-training-capabilities-to-ukrainian-armed-forces-to-include-c-uas-simulator. Retrieved 2026-10-17.
  13. ↑ 13.0 13.1 13.2 13.3 "Varjo & Boeing: A New Era in Astronaut Training using Virtual Reality". Varjo. https://varjo.com/case-studies/boeing-starliner/. Retrieved 2026-10-17.
  14. ↑ 14.0 14.1 14.2 "Case Study - Fortum: Virtual Reality (VR) for Nuclear Power Plant Operator Training". Varjo. https://varjo.com/case-studies/case-fortum-virtual-reality-vr-for-nuclear-power-plant-operator-training. Retrieved 2026-10-17.
  15. ↑ 15.00 15.01 15.02 15.03 15.04 15.05 15.06 15.07 15.08 15.09 15.10 15.11 15.12 "Varjo Raises $40 Million Series D Funding to Build an Industrial Metaverse". Varjo. 2022-09-06. https://varjo.com/press-release/varjo-raises-40-million-series-d-funding-to-build-an-industrial-metaverse/. Retrieved 2026-10-17.
  16. ↑ 16.0 16.1 16.2 16.3 "Varjo invests over EUR 40 million in next-generation defense technologies". Varjo. 2025-10-15. https://varjo.com/news/varjo-invests-over-40-million-in-next-generation-defense-technologies-business-finland-grants-significant-funding-to-support-the-program. Retrieved 2026-10-17.
  17. ↑ 17.0 17.1 17.2 17.3 Scott Hayden (2017-07-05). "This Startup Aims to Deliver a VR Headset with 'Human Eye Level' Resolution". Road to VR. https://www.roadtovr.com/company-promises-deliver-vr-headset-human-eye-level-resolution/. Retrieved 2026-10-13.
  18. ↑ 18.0 18.1 "AWE EU 2019 - Urho Konttori". AWE. https://www.awexr.com/eu-2019/speakers/822. Retrieved 2026-10-17.
  19. ↑ 19.0 19.1 Alexandra Minchuk (2020-08-18). "Finnish startup Varjo receives $54 million Series C funding". AIN.UA. https://en.ain.ua/2020/08/18/finnish-startup-varjo-receives-54-million-series-c-funding. Retrieved 2026-10-13.
  20. ↑ 20.0 20.1 "VR Expert: Interview with Varjo Founder and CTO, Urho Konttori". Varjo. 2021-12-31. https://varjo.com/blog/vr-expert-interview-with-urho-konttori-varjo-founder-and-chief-technology-officer. Retrieved 2026-10-13.
  21. ↑ Ryan Browne (2024-09-26). "Google venture arm backs startup aiming to bring mixed reality to any car windshield or plane cockpit". CNBC (via NBC Chicago). https://www.nbcchicago.com/news/business/money-report/google-backs-a-startup-that-aims-to-bring-mixed-reality-to-any-car-windshield-or-plane-cockpit/3557816/. Retrieved 2026-10-13.
  22. ↑ 22.0 22.1 Dean Takahashi (2021-06-10). "Pixieray raises $4.4M for glasses that adapt to what you're looking at on the fly". VentureBeat. https://venturebeat.com/arvr/pixieray-raises-4-4m-for-glasses-that-adapt-to-what-youre-looking-at-on-the-fly. Retrieved 2026-10-13.
  23. ↑ Shun Kubota (2019-03-05). "圧倒的な超高解像度VR、ライバルは"意外な巨人"? Varjo体験レポ&CEOインタビュー". Mogura VR. https://www.moguravr.com/varjo-interview/. Retrieved 2026-10-13.
  24. ↑ Ingrid Lunden (2025-04-28). "IXI raises $36.5M from Amazon and others to bring autofocus to prescription glasses". TechCrunch. https://techcrunch.com/2025/04/28/ixi-raises-36-5m-from-amazon-and-more-to-bring-the-concept-of-autofocus-to-prescription-glasses/. Retrieved 2026-10-13.
  25. ↑ "Roope Rainisto". Games Now! (Aalto University). https://gamesnow.aalto.fi/roope-rainisto-2025/. Retrieved 2026-10-13.
  26. ↑ 26.0 26.1 26.2 26.3 26.4 Kyt Dotson (2019-02-19). "Varjo unveils $6,000 enterprise VR headset with human eye quality display". SiliconANGLE. https://siliconangle.com/2019/02/19/varjo-reveals-6000-vr-headset-human-eye-quality-display/. Retrieved 2026-10-17.
  27. ↑ 27.0 27.1 27.2 27.3 27.4 27.5 27.6 "Varjo Announces Two New Human-Eye Resolution Virtual Reality HMDs For Professionals". Varjo. 2019-10-15. https://varjo.com/news/varjo-announces-two-new-human-eye-resolution-hmds-for-professional-vr-incorporating-support-for-steamvr-content-at-industrys-highest-fidelity-and-integrated-hand-tracking. Retrieved 2026-10-17.
  28. ↑ 28.0 28.1 28.2 28.3 Scott Hayden (2019-12-03). "Varjo Launches $10,000 XR-1 Dev Edition, Combining VR & AR in a Single Headset". Road to VR. https://roadtovr.com/varjo-launches-10000-xr-1-dev-edition-headset-combining-vr-ar-single-package/. Retrieved 2026-10-17.
  29. ↑ 29.00 29.01 29.02 29.03 29.04 29.05 29.06 29.07 29.08 29.09 "Varjo launches its next generation XR-3 and VR-3 headsets for businesses and enterprise". Auganix. 2020-12-01. https://www.auganix.org/?p=5899. Retrieved 2026-10-17.
  30. ↑ Ian Hamilton (2020-11-30). "Varjo VR-3 Has Industry-Leading Resolution, XR-3 Model Gets LiDAR". UploadVR. https://uploadvr.com/varjo-xr-3-vr-3-lidar/. Retrieved 2026-10-17.
  31. ↑ 31.0 31.1 31.2 31.3 31.4 Jamie Feltham (2021-10-20). "Varjo Aero Announced: $1990 SteamVR Headset, 3K Per Eye Mini LED, Eye-Tracking". UploadVR. https://uploadvr.com/varjo-aero-announced/. Retrieved 2026-10-17.
  32. ↑ 32.0 32.1 Scott Hayden (2023-09-21). "Varjo Cuts Price of High-end Aero PC VR Headset by 50%". Road to VR. https://roadtovr.com/varjo-price-aero-vr-headset-50-off-deal/. Retrieved 2026-10-17.
  33. ↑ 33.0 33.1 33.2 33.3 33.4 Benjamin Danneberg (2023-11-27). "Varjo XR-4 Series: Mixed Reality with Human Eye Resolution". MIXED. https://mixed-news.com/en/varjo-xr-4-series-announced/. Retrieved 2026-10-17.
  34. ↑ "Varjo closes USD $54 million in Series C funding and appoints Timo Toikkanen as new CEO". Auganix. 2020-08-12. https://www.auganix.org/varjo-closes-usd-54-million-in-series-c-funding-and-appoints-timo-toikkanen-as-new-ceo/. Retrieved 2026-10-17.
  35. ↑ 35.0 35.1 35.2 35.3 "Rheinmetall and Varjo join forces to accelerate defense readiness with mixed reality training solutions". Varjo. 2025-11-25. https://varjo.com/news/rheinmetall-and-varjo-join-forces-to-accelerate-defense-readiness-with-mixed-reality-training-solutions. Retrieved 2026-10-17.
  36. ↑ 36.0 36.1 36.2 "Varjo and VRAI Announce Strategic Partnership to Bring Data-Driven Insights to Military Training". Varjo. 2026-04-14. https://varjo.com/news/varjo-and-vrai-announce-strategic-partnership-to-bring-data-driven-insights-to-military-training. Retrieved 2026-10-17.
  37. ↑ 37.0 37.1 37.2 37.3 37.4 "Varjo Raises $31m Series B from Atomico to Transform Heavy Industry with World's First Human-Eye Resolution VR Product". Varjo. 2018-10-08. https://varjo.com/press-release/varjo-raises-31m-series-b-from-atomico-to-transform-heavy-industry-with-worlds-first-human-eye-resolution-vr-product/. Retrieved 2026-10-17.
  38. ↑ 38.0 38.1 Sam Sprigg (2021-06-24). "Varjo unveils its 'Reality Cloud' platform for capturing and sharing real world surroundings in Virtual Reality". Auganix. https://www.auganix.org/?p=10411. Retrieved 2026-10-17.
  39. ↑ 39.0 39.1 "Varjo Headsets Selected as Part of First FAA Approved VR Flight Simulation Training Device". Varjo. 2024-08-08. https://varjo.com/news/varjo-headsets-selected-as-part-of-first-faa-approved-vr-flight-simulation-training-device. Retrieved 2026-10-17.
  40. ↑ 40.0 40.1 40.2 David Heaney (2024-08-02). "A VR-Based Flight Simulator Rig Has Been FAA Qualified For The First Time". UploadVR. https://www.uploadvr.com/first-faa-qualified-vr-flight-simulator/. Retrieved 2026-10-17.
  41. ↑ 41.0 41.1 41.2 41.3 "Varjo XR-4 Achieves NATO Accreditation in Inzpire's Cutting-Edge JTAC Simulator". Varjo. 2025-03-25. https://varjo.com/news/varjo-xr-4-achieves-nato-accreditation-in-inzpires-cutting-edge-jtac-simulator. Retrieved 2026-10-17.
  42. ↑ 42.0 42.1 42.2 42.3 "Varjo XR Technology Powers First-Ever EASA-Qualified Mixed Reality Flight Simulator by BRUNNER". Varjo. 2025-06-04. https://varjo.com/news/varjo-xr-technology-powers-first-ever-easa-qualified-mixed-reality-flight-simulator-by-brunner. Retrieved 2026-10-17.
  43. ↑ 43.0 43.1 43.2 "Varjo and REISER announce EASA pre-Qualification of the mixed reality H145 D3 simulator". Varjo. 2025-11-18. https://varjo.com/news/varjo-and-reiser-announce-easa-pre-qualification-of-the-mixed-reality-h145-d3-simulator. Retrieved 2026-10-17.
  44. ↑ 44.0 44.1 "REISER H145 D3 XR Sim Qualified to EASA Standards". HeliOps Magazine. 2026-04-03. https://www.heliopsmag.com/heliops/news/reiser-h145-d3-xr-sim-qualified-to-easa-standards/. Retrieved 2026-10-17.
  45. ↑ 45.0 45.1 45.2 "Varjo Welcomes THEON as Strategic Investor to Accelerate Military-Grade VR/XR Innovation". Varjo. 2025-08-13. https://varjo.com/news/varjo-welcomes-theon-as-strategic-investor-to-accelerate-military-grade-vr-xr-innovation. Retrieved 2026-10-17.
  46. ↑ 46.0 46.1 "Varjo achieves ISO/IEC 27001:2022 certification". Varjo. 2026-01-21. https://varjo.com/news/varjo-achieves-isoiec-270012022-certification. Retrieved 2026-10-17.
  47. ↑ 47.0 47.1 47.2 "Ukrainian Armed Forces to Advance Virtual Training Capabilities with Varjo". Varjo. 2026-03-31. https://varjo.com/news/ukrainian-armed-forces-to-advance-virtual-training-capabilities-with-varjos-xr-technology. Retrieved 2026-10-17.
  48. ↑ 48.0 48.1 48.2 48.3 48.4 48.5 48.6 48.7 "VR/XR Headset for Training and Simulation - Varjo XR-4 Series". Varjo. https://varjo.com/products/xr-4. Retrieved 2026-10-17.
  49. ↑ 49.00 49.01 49.02 49.03 49.04 49.05 49.06 49.07 49.08 49.09 "High-Resolution Virtual and Mixed Reality Headsets". Varjo. https://varjo.com/products/. Retrieved 2026-10-17.
  50. ↑ "Release notes - Varjo Base 4.15 Main release". Varjo Support. 2026-05-04. https://support.varjo.com/hc/en-us/release-notes-varjo-base-4.15. Retrieved 2026-10-17.
  51. ↑ "Release notes - Varjo Base 4.16 Main release". Varjo Support. 2026-07-22. https://support.varjo.com/hc/en-us/release-notes-varjo-base-4.16. Retrieved 2026-10-17.
  52. ↑ "Downloads". Varjo for developers. https://developer.varjo.com/downloads. Retrieved 2026-10-17.
  53. ↑ 53.0 53.1 Hubert Nguyen (2022-04-28). "Varjo Reality Cloud: Ultra-Reality Experience The Easy Way". Ubergizmo. https://www.ubergizmo.com/2022/04/varjo-reality-cloud/. Retrieved 2026-10-17.
  54. ↑ 54.0 54.1 Josef Erl (2024-05-28). "Varjo pulls the plug: Reality Cloud will no longer be developed from June 2024". MIXED. https://mixed-news.com/en/varjo-pulls-the-plug-reality-cloud-will-no-longer-be-developed-from-june-2024/. Retrieved 2026-10-17.
  55. ↑ Scott Hayden (2024-11-25). "Varjo Launches 'Teleport' Service to Easily Scan Real Places and Bring Them into VR". Road to VR. https://roadtovr.com/varjo-teleport-3d-model-scanning-app-release/. Retrieved 2026-10-17.
  56. ↑ 56.0 56.1 56.2 "Varjo Announces General Availability of Teleport". Varjo. 2024-11-25. https://varjo.com/news/varjo-announces-general-availability-of-teleport-the-worlds-first-high-resolution-scan-to-vr-solution. Retrieved 2026-10-17.
  57. ↑ "Varjo Launches Teleport 2.0: A Generational Leap in Photorealistic 3D Capture for Creators". Varjo. 2025-04-24. https://varjo.com/company-news/varjo-launches-teleport-2-0-a-generational-leap-in-photorealistic-3d-capture-for-creators/. Retrieved 2026-10-17.
  58. ↑ "Teleport Secure - Photorealistic 3D Mission Environments". Varjo. https://varjo.com/products/teleport-secure. Retrieved 2026-10-17.
  59. ↑ "Eye tracking". Varjo for developers. https://developer.varjo.com/docs/get-started/eye-tracking-with-varjo-headset. Retrieved 2026-10-17.
  60. ↑ "Introducing Integrated Hand Tracking for Varjo XR-4 Series". Varjo. 2025-04-22. https://varjo.com/vr-lab/introducing-integrated-hand-tracking-for-varjo-xr-4-series/. Retrieved 2026-10-17.
  61. ↑ 61.0 61.1 "Tracking Built for Dynamic Environments: Polhemus VIPER Now Supports XR-4". Varjo. 2026-08-18. https://varjo.com/blog/tracking-built-for-dynamic-environments-polhemus-viper-now-supports-xr-4. Retrieved 2026-10-17.
  62. ↑ 62.0 62.1 "How the Slovenian Armed Forces Are Driving Operational Readiness with VR/XR Powered by Varjo and AFormX". Varjo. https://varjo.com/case-studies/how-the-slovenian-armed-forces-are-driving-operational-readiness-with-vr-xr-powered-by-varjo-and-aformx. Retrieved 2026-10-17.
  63. ↑ 63.0 63.1 "Engineering the Future of Flight: University of Maryland's Flight Simulation and Control Lab Drives Breakthrough VR/XR Research". Varjo. https://varjo.com/case-studies/engineering-the-future-of-flight-university-of-marylands-flight-simulation-and-control-lab-drives-breakthrough-vr-xr-research. Retrieved 2026-10-17.
  64. ↑ Niklas Stein, Diederick C. Niehorster, Tamara Watson, Frank Steinicke, Katharina Rifai, Siegfried Wahl, Markus Lappe (2021). "A Comparison of Eye Tracking Latencies Among Several Commercial Head-Mounted Displays". i-Perception, vol. 12, no. 1. https://doi.org/10.1177/2041669520983338. Retrieved 2026-10-17.
  65. ↑ Ben Lang (2022-09-07). "Varjo Raises $40M Series D Funding to Expand Cloud-based XR Platform". Road to VR. https://roadtovr.com/varjo-series-d-investment-40-million-reality-cloud/. Retrieved 2026-10-17.
  66. ↑ 66.0 66.1 66.2 66.3 Scott Hayden (2017-09-29). "Varjo Raises $8.2M Investment to Further Develop "Human Eye-resolution" Headsets". Road to VR. https://www.roadtovr.com/varjo-technologies-raises-8-2m-series-investment-develop-human-eye-resolution-headsets/. Retrieved 2026-10-17.
  67. ↑ "VARJO (EGF VD)". European Investment Bank. https://www.eib.org/en/projects/all/20210232. Retrieved 2026-10-17.
  68. ↑ "VR Software with Highest Performance - Varjo Software Integrations". Varjo. https://varjo.com/varjo-ready-software. Retrieved 2026-10-17.
  69. ↑ "Varjo Named One of the World's Most Innovative Companies by Fast Company for 2023". Varjo. 2023-03-02. https://varjo.com/news/varjo-named-one-of-the-worlds-most-innovative-companies-by-fast-company-for-2023. Retrieved 2026-10-17.
  70. ↑ "Varjo Named to Fast Company's List of the World's Most Innovative Companies of 2025". Varjo. 2025-03-18. https://varjo.com/news/varjo-named-to-fast-companys-list-of-the-worlds-most-innovative-companies-of-2025. Retrieved 2026-10-17.
  71. ↑ "Varjo Mixed Reality Headset Recognized as 2019 Lumiere Award Winner". Varjo. 2019-10-29. https://varjo.com/news/xr-1-developer-edition-recognized-as-2019-lumiere-award-winner. Retrieved 2026-10-17.
  72. ↑ "Varjo Aero Wins Best Headworn Device". Halldale Group. 2022-06-08. https://www.halldale.com/civil-aviation/19911-sct-varjo-aero-wins-best-headworn-device. Retrieved 2026-10-17.