Virtway raises €4M to fund UK expansion
Virtway, a 3D virtual world conferencing platform, has announced that it has raised €4m to launch in the UK, marking its first expansion outside of the company’s native Spain. The funding was led by Virtway Invest AB and was driven by high demand for the platform in the UK and the USA.
Founded in 2014 by Spanish entrepreneur Jose Antonio Tejedor, Virtway is an immersive platform that provides online 3D virtual experiences such as conferences, fairs and training sessions. Users choose their own avatar, and can present, talk and network with each other in real time, simulating the feeling of direct contact and offering a more engaging experience than webinars, video and conference calls.
Virtway also enables organisers to create events that can go beyond the limits of the real world. It also expands their attendee list to more geographies, while significantly reducing the carbon footprint through reduced travel, amounting to a far more cost-effective and greener alternative to physical events. Detailed data insights on audience participation helps them to better plan for future events.
With its in-house developed 3D engine, Virtway can be accessed through computers and both iOS and Android mobile devices making it easier than ever for event organisers to connect people from all over the world.
Events cost between £1,000 and £10,000, depending on the size of the event and their platform permits an infinite number of users to connect allowing 500 avatars to be present in the same virtual room not only from tablets and computers, but also from mobile phones. In comparison, competitors have a limit of 50 users per room when connecting via mobile phone. In addition, Virtway attendees can talk, chat and network with other attendees from any device. The advanced 3D VoIP (Voice Over Internet Protocol) allows individuals to speak to others whilst giving a realistic perception that you are talking to an individual or small group rather than being in a chat room.
The platform can be used for a wide range of activities including conferences, careers fairs, training and remote learning. The wide range of applications has seen it being used by companies such as AstraZeneca, Accenture, Everis, Manpower.
Jose Antonio Tejedor, founder and CEO said: “This investment will be a great boost to what we hope will be a successful expansion in the UK following increased demand from English speaking countries. It’s a really exciting time for the company with a huge amount of interest in the product from companies and universities.
“We have an exciting and unparalleled product and are constantly working to improve the UX. There is no other platform that is offering the level of connectivity and experience that Virtway is currently bringing to the marketplace. The funding will be used to further improve the product and increase our footprint outside of Spain. It has come at a great time and we are looking forward to the next stage of our journey.”