VR Education raises €9 million to create a 'commercial metaverse'


As it expands its virtual reality and metaverse service for consumers, the Waterford company aims to increase its employment from 60 to 120 people.

VR Education, a virtual reality startup based in Waterford, has secured €9 million in a share placement to develop a “metaverse for business” in virtual reality.

The funds were raised through new shares placed by Davy and Shard Capital Partners in VR Education, which is listed on Euronext Dublin and the London Stock Exchange.

According to Siliconrepublic.com, the company is intending to develop a new product for businesses in what he refers to as a “always-on persistent environment.”

Its virtual reality platform, Engage, was created with education and corporate training in mind, but since the release of Covid-19, the company has witnessed an increase in demand from enterprise clients.

“They were requesting extra services from us.” They had been utilizing us for business meetings and sales events, but now they want to expand their outreach to include services for the general public. So what we’re creating is a persistent environment that’s always on, a metaverse for business,” Whelan explained.

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