| Founded | 2016 |
|---|---|
| Closed | 2024 |
| Country | Finland |
| Sector | Hardware |
| Total raised | $170M (EQT, Atomico, 2016–2022) |
| Collapse type | Mass Layoff Spiral |
| Founder | Urho Konttori |
Varjo
"Finland's high-end VR headset maker for enterprise cut half its staff as the metaverse hype cycle collapsed"
Cascading layoffs that accelerated the decline
Key Events Timeline
Varjo built ultra-high-resolution VR headsets for professional enterprise use cases — pilot training, automotive design, architecture.
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