$2.3 billion has been invested in AR and VR in the past 12 months with $500 million invested in the last quarter alone.

This statistic comes from Digi-Capital, which said that this is the ninth quarter in a row that has seen investment trending upwards. Investments have averaged at $9.3 million, or $16.4 million if seed deals are excluded.

In terms of who is investing the money, Digi-Capital's report claims that 65% of investments came from mainstream VCs. Only 14% came from specialist AR/VR VC's, and 21% came from corporate investors.

More units, less games

Major investors included Fidelity, Intel Capital, Softbank, Kleiner Perkins Caufield and Byers, Sequoia, DCM, Qualcomm Ventures, Raine and CITIC.

AR and VR games have only made up a small fraction of Q3 2016's investment, however, with the largest share of the investment going towards AR head-mounted displays.

The spike in interest in AR could be linked to the massive rise of Pokemon GO, which appeared without warning and helped popularise AR on mobile in a very short time.