Enterprise VR startup Spatial nabs new funding

Spatial, a company that creates team workspaces in virtual and augmented reality, has landed $14 million in new funding, bringing its total raised to $22 million.

Why it matters: Spatial has some impressive technology, but will likely need to play a long game, as VR adoption has proven slower than once hoped.

• The company is working with a handful of early customers, including Mattel, Purina and BNP Paribas.
• Investors include iNovia, Lerer Hippeau, Expa, Whitestar Capital, Kakao Ventures, Baidu Ventures and Instagram co-founder Mike Krieger. 

My thought bubble: The most interesting thing about Spatial is the way it works across phones and different VR headsets, including Oculus, Microsoft Hololens and Qualcomm's new XR2 reference design. I had the chance to try it out last year at Snapdragon Summit, and the cross-platform capabilities are impressive.

• Here's a video of me trying out the technology.

Go deeper: The complicated future of augmented and virtual reality