Serious Labs Accepts $5 Million to Develop VR Training

August 14, 2017

Serious Labs in Edmonton, Alberta, announced United Rentals and Brick and Mortar Ventures have invested $5 million in a Series A equity financing round to allow the company to continue its mission to develop innovative training solutions for heavy industry.

The new VR equipment simulators will include additional crane models, forklifts, backhoes and skid steers.

“Our technology makes a difference in worker safety and productivity. It’s something that the industry is ready for as the boomers continue to retire and are replaced by the digital millennial workforce that likes to learn by doing rather than sitting in a traditional classroom,”  said Jim Colvin, CEO, Serious Labs.

Serious Labs and United Rentals have a strong history of partnering and together they developed United Academy Premium Online Training. This training has made it easier and more convenient for employers to satisfy their need for compliance training while effectively reducing cost and risk, improving productivity and making their workforce safer.

“Virtual reality and other technology-rich techniques can help our customers work more safely and with greater productivity—for example, VR simulation offers hands-on training that mirrors the operator experience on a construction or industrial site, and delivers it in a safe and controlled environment. We are pleased to support Serious Labs in its exploration of new immersive learning technologies,.” said Jeffery Fenton, United Rentals' senior vice president of business development.

“Virtual reality is already the gold standard in aeronautics and aviation, and adoption is now beginning in the Architecture-Engineering- Construction (AEC) world,” ,” said Darren Bechtel, managing director of Brick and Mortar Ventures.

Serious Labs also secured over $3.5 million in new product development contracts to augment SLI’s suite of Virtual Reality (VR) equipment simulators.