A virtual reality education company is listing on Aim today for £19.3m
Virtual reality may soon hit the classroom, as a company called VR Education (VRE) listed on London's junior market today for a market value of £19.3m.
VRE, which has raised £6m through the initial public offering (IPO), focuses on using virtual reality to improve digital learning and corporate training.
The money raised in the float will be used to improve its virtual social learning and presentation platform Engage, due for launch in 2018. The platform allows educators and trainers to hold lessons, meetings and presentations in a virtual environment, and pre-record content.
Read more: Virtual reality rocket: Sector set to swell with Brits owning 16m headsets within five years
“As a disruptive virtual reality 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. Benefits include cost-savings and course completion rates, amongst others," said the company's chief executive David Whelan.
"Our focus is now on strengthening our network of educational institutions and corporations, which already includes the likes of Oxford University and the BBC, and building our sales team to roll-out and position Engage as the go-to platform of choice for digital education and simulated training globally."
VRE's board includes figures such as chairman Richard Cooper, former finance director of sports betting group GVC, eDrive Group analyst Sandra Whelan, and Virgin Media Ireland CEO Antony Hanway.