Engage XR plans to launch its corporate metaverse offering later this year, following a period of steady growth for the Waterford-based company.
Engage XR, formerly VR Education, has partnered with Stanford University and HTC to launch its metaverse platform for enterprises later this year.
The Irish VR company’s corporate metaverse offering, Engage Link, is expected to launch in the fourth quarter of 2022. It will allow organisations to build their own metaverse, provide customer experiences and host professional virtual events within the company’s Engage ecosystem.
Stanford’s Virtual Human Interaction Lab and consumer electronics business HTC have been confirmed as launch partners.
HTC and Engage XR announced a strategic licensing partnership in 2020, which was cemented further when the start-up received a €3m investment from HTC later that year.
Engage XR, which was featured as a SiliconRepublic.com Start-up of the Week in 2015, provides users with a platform for creating, sharing and delivering VR content for education, training and online events through its virtual campus, office and events products.
The Waterford-based company made the announcement about Engage Link today (2 August) with its interim earnings results for the first half of the year. The company’s revenue for this period is expected to be €1.76m, up from €1.25m in the same period of 2021.
Revenue from its proprietary software platform Engage, which represents most of the start-up’s total revenue, is expected to be up 62pc.
Engage XR said the year to date has been one of progress, as it gained new clients such as global logistics company Kuehne + Nagel, Kia and Natixis. South Korean company D’Carrick also signed a new contract with the company worth €300,000 over a three-year period.
Its US partner VictoryXR has also announced the launch of 10 ‘Metaversities’, an immersive education initiative funded by Meta and built on the Engage platform.
Engage XR CEO David Whelan said the results have given the company confidence in the prospects of the enterprise offering Engage Link.
“A growing number of blue-chip companies are adopting virtual reality for events, training and engaging with stakeholders worldwide,” Whelan added.
“We are extremely excited about the interest being shown by major organisations in our new technology. The metaverse is set to change global business practices and Engage XR aims to be at the forefront of this revolution.”
Engage XR has expanded its US presence ahead of the launch. This includes the appointment of Richard Allin as CRO and Kyle Horner as director of marketing.
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