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Engage XR reports sales increases ahead of Metaverse platform launch

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Virtual reality technology company Engage XR saw revenue surge in the first half.

Group sales of around €1.76 million are now expected for the six months to June 30, 2022. In the same period of the previous year, sales were €1.25 million.

The company’s Engage platform also saw growth over the same period, with revenue increasing 62 percent to €1.46 million.

Formerly known as VR Education Holdings, Engage has evolved from education-based products to virtual reality services for large enterprise customers.

The platform now accounts for 83 percent of revenue, an 11 percent increase over the first half of 2021.

In the first half of the year, Kuehne + Nagel International, Kia and Natixis became Engage customers.

Now, Engage XR plans to launch its Engage Link platform, a dedicated Metaverse platform, which is expected to go live later this year. The company will work with HTC and Stanford University’s Virtual Human Interaction Lab to launch the new platform.

As part of the company’s expansion plans, the group has increased its headcount in the United States, appointing Richard Allin as chief revenue officer and Kyle Horner as marketing director.

“A growing number of blue-chip companies are using virtual reality for events, training and collaboration with stakeholders worldwide. This gives us confidence in the prospects of Engage Link, our new Metaverse platform, due to launch later this year,” said Chief Executive David Whelan.

https://www.independent.ie/business/world/engage-xr-reports-rise-in-revenues-ahead-of-metaverse-platform-launch-41883849.html Engage XR reports sales increases ahead of Metaverse platform launch

Fry Electronics Team

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