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Wednesday 20 May 2020

HTC invests in VR Education

vrHTC Corporation has agreed to invest €3m in Irish virtual reality (VR) software and technology group, VR Education. The two are also entering into a strategic partnership for the distribution and license of the VR Education’s ENGAGE platform globally through HTC's enterprise sales channels.

The funding will enable VR Education to undertake the next stage of its development, particularly around the capabilities and commercialisation of the ENGAGE platform. 48,284,102 Subscription Shares will be issued at an Issue Price of 5.47p per Subscription Share.

The investment and partnership follow on from HTC's successful use of ENGAGE at the 2020 HTC VIVE Ecosystem Conference in March. It’s a strong endorsement and of course very timely as more events confront either having to move online or be cancelled. Currently, users are showing patience with inconsistency of quality with regards to the online experience. However, we believe virtual attendees will become increasingly less forgiving and that the competition for the provision of high-quality platforms will heat up. If ENGAGE really is as good as HTC believes it is, this could prove to be an investment with a potentially huge payback.

In its end of year training update, VR Education showed slow and steady progress. In our view, it offers something new and innovative to the education sector – and we agree with HTC that the ENGAGE platform has significant potential.

Posted by: Kate Hanaghan

Tags: funding   virtualreality   onlineevents  

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