Waterford Virtual Reality firm expands to Middle East and China

Waterford Virtual Reality firm expands to Middle East and China

David Whelan the CEO of VR Education Holdings and chief operating officer Sandra Whelan. The company said increased demand for its Engage platform means it now has more than 130 commercial customers.

Waterford virtual reality technology firm VR Education Holdings has reported an 83% increase in revenues for the first half of 2021.

The company said accelerated demand for its Engage platform means it now has more than 130 commercial customers. It provides virtual communications that allow users to create, share and deliver content for education, training, and online events through the Engage platform.

In recent months the company has expanded to the Middle East through two commercial agreements in the United Arab Emirates: one for a global event for 12 international police forces and the other for a commercial license with custom development work. It has also partnered with the HTC Corporation to sell Engage in China, as part of a software bundle with HTC's new virtual reality headset.

As a result, revenues increased for the first half of 2021 to €1.25m compared to €681,000 for the same period in 2020. Engage revenue accelerated to €0.9m and comprised 72% of total group revenue for the period. However, planned investment in capabilities has widened pre-tax losses at the company to €1.3m.

“The first six months have seen the continued growth of Engage, building on the trends of 2020, as more and more companies and organisations around the world see virtual reality as a better way of communicating," David Whelan, CEO of VR Education, said. "The pandemic has had a major impact on the use of Engage which is set to continue as the technology becomes more accessible, and the drive to live more sustainably, and reduce travel, picks up pace."

"We have seen major developments in the first six months, including the rollout of our software in China through our partnership with HTC, passing the milestone of 100 commercial customers, and VR Education Holdings entering new markets, including the Middle East.”

Read More

More in this section

Dalata sees revenue fall amid 'lower trade levels' in Ireland Dalata sees revenue fall amid 'lower trade levels' in Ireland
Jameson-owner Pernod Ricard banks on improved sales as demand weakens across key markets Jameson-owner Pernod Ricard banks on improved sales as demand weakens across key markets
Growing passenger traffic sees earnings at Shannon Airport Group rise to €21m Growing passenger traffic sees earnings at Shannon Airport Group rise to €21m
The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
Lunchtime News
Newsletter

Keep up with the stories of the day with our lunchtime news wrap.

Sign up
Home Delivery
logo-ie

HOME DELIVERY SERVICE

Have the Irish Examiner delivered to your door. No delivery charge. Just pay the cover price.

Revoiced
Newsletter

Sign up to the best reads of the week from irishexaminer.com selected just for you.

Sign up
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited