VR Education Company Begins Trading On Stock Exchange
VR Education Holdings plc have raised over £6 million by selling shares.
Education is one area that has already begun seeing benefits from virtual reality (VR) technology, with students able to see and understand places and concepts that they normally would not get to see. One company that has been exploring VR technology in education is VR Education Holdings plc, which has just begun trading on the London Stock Exchange.
The company is a VR software and technology group concentrating on improving the delivery and effectiveness of digital education as well as corporate training. As part of its admission onto the Stock Market, the company has raised over £6 million (GBP) by selling over 60 million shares.
VR Education Holdings has partnered with Oxford University and the Royal College of Surgeons in Ireland and the BBC and has been involved in producing high-quality education VR experiences such as Titanic VR and Apollo 11 VR.
Some of the revenue raised will be used to further develop its VR learning platform, ENGAGE, which is planned to be rolled out some time during 2018. Users such as educators and trainers will be able to use the platform to hold lessons, meeting or presentations in a VR multi-user environment.
Company CEO David Whelan said: “The VR/AR market is growing at a fast rate; as hardware becomes more affordable, this growth will undoubtedly gain further traction and we are at the forefront of this. As a VR software and technology group operating in the niche education sector, we provide students, educators and corporate trainers with a real alternative to attending brick and mortar institutes”
Richard Cooper, Non-Executive CEO added: “The board is delighted that investors have been so supportive of our IPO and the presentations made by the management team in the last few weeks. We look forward to having a regular dialogue with these shareholders over the coming years as the business seeks to rapidly develop its VR education offering.”
For further news on developments in the VR education and training sector, keep checking back with VRFocus.