Technology company VR Education Holdings has started trading today on the Dublin and London stock exchanges.
Trading for shares in VR Education Holdings kicked off on the AIM in London and the ESM in Dublin, with the company raising £6 million (€6.7 million) as part of the admissions process placing of 60,000,000 new ordinary shares at 10p each.
Immersive VR Education, founded in 2014 by David and Sandra Whelan, focuses on transforming the delivery and effectiveness of digital education and corporate training and has 21 full-time employees in Waterford.
VRE, which has raised £6m through the initial public offering (IPO), focuses on using virtual reality to improve digital learning and corporate training. This is mainly done through Engage, a free tool that allows users to hold meetings or lessons in a customised virtual environment. "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 bricks-and-mortar institutes; benefits include cost-savings and, of course, completion rates among others", he said.
David Whelan, chief executive, 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".
The money raised in the float will be used to improve its virtual social learning and presentation platform Engage, due for launch in 2018. "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".
The company employs 21 at its Waterford offices in a variety of roles including animators, artists, researchers, marketing, and developers.