VIRTUALWARE REPORTS REVENUES OF €2.034 MILLION AND NET PROFIT OF €199,164 IN 1H2024

BILBAO, Spain, July 18.– European Virtual Reality company Virtualware, a VRARA member, recorded revenues of €2.034 million in the first half of 2024, a growth of 28.09% over the same period last year.

According to unaudited results released this morning on Euronext Access Paris, the company’s EBITDA in the first half amounted to €344,539.

This figure represents an improvement of 299.16% compared to €86,317 for the first half of 2023.

The net profit for the first half of 2024 was 199,164 euros, compared to a loss of 25,759 euros in the first half of 2023. This shows that the company’s strategic decisions have ushered in a new growth phase.

The results are the fruit of consolidating the company’s new business model, which involves a shift to the SaaS model and the growth of its customer base through the induction of technology partners.

Unai Extremo, CEO of Virtualware, explained, “The significant and continued growth we are experiencing is good news, and the margin results reflect something we anticipated when we decided to radically change our business model and bet on the development of a SAAS platform such as VIROO.”

“We hope to be able to continue this dynamic in terms of results over the next six months,” he added.

Headquartered in Bilbao (Spain), Virtualware is a global pioneer in developing virtual reality solutions for large industrial, educational, and healthcare conglomerates.

Virtualware’s flagship product, VIROO, facilitates the adoption of virtual reality in enterprises thanks to its ease of use, robustness, and scalability. Recognized as a pioneering XR platform for training, VIROO is fast becoming the global reference for developing and deploying multi-user VR applications in industry and education.

VIROO is already being used by more than 40 companies and institutions around the world, including GE Vernova, Ontario Power Generation, Gestamp, ADIF, the Spanish Ministry of Defense, Invest WindsorEssex, McMaster University, the University of El Salvador, Conalep and EAN University.

In May, it won the award for Best Training Solution at the 2024 XR Awards organized by XR Today.

Following the publication of its 2024-2026 Strategic Plan, the company announced the appointment of John A. Cunningham as President of its U.S. operations.

.The company made its stock market debut on Euronext Access Paris in April 2023. Its shares are currently trading at €8.40 per share, reflecting a market capitalization of close to €38.153 million.

The market consensus currently stands at €10 per share, according to the most recent report published by Litchfield Hills Research.

See full earnings report here.

VIRTUALWARE WINS BEST TRAINING SOLUTION WITH VIROO AT XR AWARDS

The Spanish Virtual Reality company Virtualware (MLVIR.PA) has won the Best Training Solution with its enterprise VR platform VIROO at 2024 XR Awards celebration presented by XR today.

The most remarkable achievements in the tech industry were released on the 23rd of June. XR Today, the leading international news publication, celebrated excellence in XR technology by hosting the XR Awards. A panel of 12 judges included industry experts such as Amelisa Kallman from The Big Reveal, Cam Stevens of the Pocketknife Group, and Samantha Kingston of Virtual Umbrella.

VIROO is an easy-to-use, scalable, all-in-one platform that significantly reduces training time, costs, and workplace errors while improving retention and accessibility. It meets the training needs of organizations of all sizes and sectors, allowing industrial corporations to enhance team training and simulation in complex, highly collaborative environments

Over 40 companies and institutions worldwide have adopted it, including GE Vernova, Ontario Power Generation, Gestamp, ADIF, the Spanish Ministry of Defense, Invest WindsorEssex, McMaster University, University of El Salvador, Conalep, and EAN University.

“It needs to be easy to use, you need to understand immediately what it is about, and intuitively see when you are failing, where and why.  In training, it needs to be supportive” . -Jay Latta (The Fusionist)

“Virtualware’s exceptional work in Training has helped push the category forward, and we are thrilled to see their accomplishments acknowledged at XR Awards 2024”.-David Dungay, Editor in Chief at XR Today.

“This award is a testament to our journey, together with our clients and partners, to redefine the standards for virtual reality in education and industrial training”. Unai Extremo, CEO & founder at Virtualware

Virtualware and the Centre for Integrated Transportation and Mobility partner to introduce VIROO platform for design review in transportation sector

This press release was originally published by Virtualware on April 7, 2024. Read the original press release here.


Bilbao, Spain, April 7 , 2024.- Virtualware (EPA: MLVIR), the European leader in virtual reality has signed a partnership agreement with the business accelerator for innovators in the smart, connected and electrified transportation sector, the Centre for Integrated Transportation and Mobility (CITM) to introduce the VR Platform VIROO into the transportation market.

CITM, supported by Innovation Factory and funded through the Ontario Vehicle Innovation Network (OVIN) is a business accelerator program for startups driving the future of smart, connected and electrified transportation.  This collaboration aims to transform the design review process in the industry, utilizing the capabilities of virtual reality (VR) to amplify collaboration and streamline operations.

The agreement will also reinforce VIROO’s presence in Ontario through its Hamilton location at  McMaster Innovation Park (MIP) with McMaster University.

“VIROO has the potential to significantly streamline our client’s design review process,” commented Richard Dunda, Director of CITM. “The ability to visualize projects in a realistic virtual environment will undoubtedly enhance collaboration and drive better outcomes for transportation innovators working to bring their solutions to market.”  

Jesus Garrido, Global Sales Manager at Virtualware, emphasizes the significance of adding CITM to their Partner Programme, “With CITM’s support, we believe VIROO will revolutionize the way design reviews are conducted, offering a seamless and immersive experience for stakeholders.” Jesús adds, “This partnership will help solidify VIROO’s position as a leader in immersive technology solutions for design review applications in Ontario’s transportation sector.”

Headquartered in Bilbao, Spain, Virtualware is a global pioneer in developing virtual reality solutions for major industrial, educational, and healthcare conglomerates. Since its founding in 2004, the company has garnered widespread recognition for its accomplishments. In 2021, Virtualware was acknowledged as the world’s most Innovative VR Company and since April 2023 the company has been listed on the Euronext Access Paris stock exchange (Ticker: MLVIR).

Virtualware’s flagship product, VIROO, is redefining the realm of enterprise VR, driving its adoption forward, leveraging innovative and sustainable strategies. Recognized for its pioneering approach in the immersive technology sector, VIROO is rapidly becoming the global benchmark for the development and deployment of multi-user VR applications in industry and education.

The VR as a service platform is already used by over 40 companies and institutions worldwide including GE Vernova, Ontario Power Generation, Gestamp, ADIF, the Spanish Ministry of Defense, Invest WindsorEssex, McMaster University, University of El Salvador, Conalep and EAN University.

VIVALDI 3.0 THE JOURNEY. III

Journey Through the Immersive Universe of Four Seasons» is an interactive xr experience that immerses viewers into the realm of Antonio Vivaldi’s musical masterpieces.

Through visually compelling storytelling, participants will delve into Vivaldi’s creative journey as he breathes life into his renowned concerto «The Four Seasons.» Each season unfolds in a distinct and captivating environment, seamlessly blending natural elements and music to deliver a multisensory and enchanting encounter.

As artists, musicians, and creatives, we find ourselves at a true crossroads—a junction where making the right choices is neither easy nor singular. Beyond the numerous apparent opportunities before us, we must navigate financial survival and address the sustainability of teams, technicians, and the myriad fellow travelers who render our projects minimally viable and appealing to an ever-changing society hungry for new, distinct, and increasingly participatory experiences.

Our journey began over a decade ago with our first forays into immersive 360º recordings, collaborating with artists, musicians, and music classrooms. Here, we began to experiment and learn from the sensations and perceptions conveyed by users, students, and teachers.

One of the pivotal moments in our journey was the first live performance featuring renowned artists like Ouka Leele, where we embarked on an interactive interpretation inspired by the sounds of the Concerto de Aranjuez. It was a fascinating experience, devoid of prior rehearsals or experiential training, executed on a digital stage using Oculus Rift equipment and Tilt Brush from Google, and recorded in 360º stereo with Vuze 360º cameras. This opportunity to recreate Digital Ephemeral Art raised initial doubts regarding feasibility, sustainability, and monetization in more straightforward and economically accessible spaces, as we spared no means or resources for this performance. Crucially, this experience was made possible through the indispensable collaboration of CEV‘s technical team.

Later on, we delved into the world of reconstructing the virtual museum of the Arab Kunka (Cuenca ancient city)—a collaborative, immersive space within the Frame VR platform. Here, we established a connection between the virtual reconstructions of the Ancient Kunka during the Arab era and the music of the great musician and composer Chema Vílchez, particularly his work «The Land of the Three Cultures».

As visitors strolled through the ancient Arab fortress, its mosques, baths, buildings, markets, and streets, they were enveloped in the sound of music that transported them to bygone eras, while also being able to explore current spaces through 360º videos. This interconnection between virtual reconstructions, current videos, and music elevated the experience to a higher level, almost teleporting participants to that magical bygone time.

Years later, the Reina Sofia Higher School of Music presented us with a truly intriguing challenge. We were tasked with creating an experience using recordings from a classical music concert to reach students in their educational program who, due to pandemic-related time constraints, were unable to participate in workshops and concerts. This concert was recorded in the Sony auditorium of the school, utilizing 360º 4K cameras and ambisonic microphone technology. The acoustical characteristics of the auditorium are truly exceptional, enabling us to produce recordings of the utmost quality. We utilized Vuze and Zoom equipment, as well as VR devices from Pico, with technological support from HP.

This experience allowed us to craft 12 virtual musical stories centered around artists such as Mozart, Tchaikovsky, and Respighi, where musical compositions intertwined with natural spaces, sensory explosions, and magical worlds, transporting visitors through 12 unique historical narratives. As a result of this endeavor, we developed «Music with the Five Senses,» which was implemented on a Virtual Reality platform and Pico devices, visiting hundreds of schools and educational centers nationwide over the years. Thousands of visitors have immersed themselves in this wonderful and experiential world, making it a true milestone and international benchmark as an immersive educational project centered around classical music.

The next stop on this journey is Vivaldi 3.0. The Journey to the Universe of Antonio Vivaldi and the Four Seasons, led by Ara Malikian and the Camerata of the Reina Sofia School, has been a mystical experience, with a predetermined start date and script, and a long journey through the forests of magical seasonal music. Along the way, we’ve encountered numerous passages and experiences that ultimately culminated in an absolutely magical work. This journey, based on Vivaldi’s original sonnets, reinterpreted by a team of writers and Ara himself, allowed us to rediscover the connections between music, nature, and the cycle of life.

Throughout this process, we’ve painted on a virtual canvas, initially blurry passages gradually taking shape into a metaphorical interpretive tableau. Throughout this process, we’ve immersed ourselves in music and creativity, repeatedly playing with the tools offered by generative artificial intelligence, which helped us reinterpret passages and scenarios through Vivaldi’s sonnets and words, Ara’s interpretations, and our own way of composing this tableau, ultimately giving it a cohesive and coherent form. We aimed for it to be timeless, appealing to various types of audiences, inviting them to return to a childlike state and be carried away by the creative spirit of the compositions and the intersection with the cycle of life, both human and natural. And all this, with a commitment to sustainability, balance, equality, and educational vision through values inspired by the emotions and sensations we’ve gathered in the project. This is our way of contributing to the awareness of the need to accelerate societal transformation.

The first test to visualize the outcome of this initial step of the project was the concert held on January 29th at the Sony auditorium of the Reina Sofia School. It was a real trial by fire, where we had to present this new proposal for an interactive multimedia concert live to a select audience: students and teachers from various schools in the Community of Madrid. It was a multimedia experience where interactivity through monitors and screens, interactions among musicians on stage, Ara Malikian’s performance, his introductory messages for each movement, and images, passages, and videos related to the movements were put to the test.

More than 600 students from a dozen public and private schools in the Community of Madrid, accompanied by their teachers in two sessions, were able to enjoy this experiential session, with an extremely high level of satisfaction. And all this was made possible thanks to the perfect coordination between the ONE team and the production, audio, and video team of the School. We had top-of-the-line equipment and professionals of the highest caliber. The journey has only just begun, and this experience has allowed us to analyze and evaluate the initial results, and to envision how we can continue advancing and projecting new immersive experiences in the immediate future. We aim to enhance the experience by integrating 3D multimedia elements more extensively, as well as enhancing the pre- and post-concert experience.

Welcome to the interactive immersive world of Vivaldi 3.0. Step into a space where reality merges with imagination, where every corner is filled with magic, and music awaits you at every turn. As you enter the world of the four seasons, you’ll find yourself surrounded by vibrant landscapes pulsating with energy and creativity. Feel the thrill of immersing yourself in a world where the boundaries of reality blur, and your senses awaken like never before. Interact with the environment around you: touch, explore, listen, and engage with the elements inhabiting this fascinating world. Whether you get lost in enchanted forests or dive into the depths of the unknown, each experience is yours to discover and shape. Prepare to be captivated by the sights, sounds, and sensations enveloping you as you delve deeper into this immersive universe throughout the cycle of life.

So, welcome to a world where dreams come to life, and the extraordinary awaits you around every corner! Let your curiosity guide you as you embark on an exciting and unforgettable journey through the Interactive Immersive Universe of Vivaldi’s Four Seasons.

Here are some figures reflecting and highlighting the extraordinary effort involved in this journey: An experience recorded and produced in 6 months, many locations, involving more than 50 professionals and over 4,000 hours of work, recording 4 live concerts with the attendance of over 1,000 people (students & teachers) from 20 schools. An immersive experience available on VR devices and the Web XR immersive platform, featuring 4 spaces, or «stations,» with interactive games, integration of 3D volumetrics, hundreds of photographic images, 10 hours of concert recordings in 8k, several terabytes of video and sound files, hundreds of hours of processing and post-production, hundreds of hours of editing and format integration…hundreds of images generated by AI to create virtual spaces and environments, artificial intelligence and image processing, 8K 360º cameras, ambisonic sound, creation of countless 3D assets…
8K Enables Immersive Vivaldi 3.0 Project By Bob Raikes

…and this is just one of the stops on this magical and unique journey.

Carlos J. Ochoa Fernández © of ONE Digital Consulting.

The government of the Basque Country, in Spain, awards a 1.5 million euro contract to Virtualware for 12 immersive rooms in vocational training centers

Bilbao, Spain, December 15 - The Basque Government has awarded Virtualware (EPA: MLVIR) a 1.5 million euro contract to create and install 12 multi-user virtual reality rooms in vocational training centers across this Spanish region.

The contract was published on the Basque Public Procurement Platform on Dec 14. It is part of the Basque Government's strategy to integrate immersive technologies into education, preparing students for future jobs.

Based on Virtualware's proprietary VIROO platform, the same used by major companies such as GE Hitachi and ADIF, these VR Rooms will enable interactive, cost-effective, and secure learning experiences while helping to connect in collaborative virtual environments.

The easy-to-use platform allows teachers and students to create, manage, and deploy virtual reality learning resources quickly and easily.

With this new contract, a total of 34 vocational training centres across the whole of Spain will now be equipped with the VIROO platform, setting the standard for this type of technology in education.

The initiative places the Basque Country at the forefront of implementing advanced educational technologies.

Virtualware has pioneered the development of virtual reality solutions for large industrial, educational, and healthcare organizations. Since it was founded in 2004, the company has received a wide range of recognition for its achievements. In 2021, Virtualware was recognized as the world's most innovative VR company.

More than 40 companies and institutions worldwide, including Gestamp, Invest Windsor Essex, McMaster University, the University of El Salvador, and EAN University, are already using the company's VR as a service platform. The Enterprise VR platform has been the backbone for developing strategic defense projects, critical infrastructure training, and innovative education programs.

It is headquartered in Bilbao, Spain, and has offices in Hamilton, Ontario, Canada. Its shares have been listed on Euronext since April 2023 under the ticker MLVIR.

Virtualware (MLVIR.PA) inks Multi-Year Agreement with Leading Global Energy Company

Bilbao, October 3, 2023. - Spanish Virtual Reality company Virtualware (MLVIR.PA), a European leader in the virtual reality space, has signed a seven-figure, multi-year agreement with a leading U.S.-based energy company.


This contract will allow Virtualware's team to continue providing cutting-edge training services for the energy industry.


With this contract, valid for five years, and renewable, the industrial corporation will continue to leverage its training processes through Virtualware’s VR as a Service Platform VIROO.


Virtualware’s flagship product VIROO is the world’s pioneering VR as a Service (VRaaS) platform, makes Virtual Reality accessible to companies and institutions of all sizes and sectors. It is an all-in-one digital solution that enables the development and deployment of multi-user Virtual Reality applications remotely.


VIROO is already used by more than 40 companies and institutions worldwide including GE Hitachi Nuclear Energy, Ontario Power Generation, Gestamp, ADIF, the Spanish Ministry of Defense, Invest WindsorEssex, McMaster University, University of El Salvador and EAN University. The enterprise VR platform has been the backbone to develop strategic projects for defense ministries, critical infrastructure training projects, and innovative educational programs.


Virtualware is a global pioneer in developing Virtual Reality solutions for major industrial, educational, and healthcare conglomerates. Since its founding in 2004, the company has garnered widespread recognition for its accomplishments.


In 2021, Virtualware was acknowledged as the world’s most Innovative VR Company.
It is based in Bilbao, Spain, and has offices in Hamilton, Ontario, Canada.
The company went public on Euronext Access Paris in April 2023, where its stock currently trades at 8,50 euros a share.

Virtualware launches VIROO 2.4, the new version of its virtual reality as a service (VRaaS) platform

Spanish publicly traded company, Virtualware (EPA:MLVIR), one of the leaders in virtual reality, announced today the release of the new version 2.4 of its VRaaS platform, VIROO, which incorporates, among other capabilities, Mixed Reality (MR) and VR CAVEs integration as a standout novelties.

Version 2.4 introduces a new groundbreaking feature by integrating virtual reality (VR) and mixed reality (MR) technologies into its sessions. This combination provides a seamless and collaborative experience, allowing multiple users to connect from different locations and use various devices, establishing genuine platform interoperability.

Among the new features, the most significant are:

• Mixed Reality capabilities: VIROO boasts the capacity to blend VR and MR technologies within its sessions, offering true cross-platform interoperability.
• VR CAVEs integration: VIROO is now compatible with multi-projection systems, such as CAVEs or similar.
• VIROO Studio for Unity: VIROOʼs low-code VR Creation tool for Unity becomes VIROO Studio.
• VIROO Room offline configuration: The new feature allows to deploy immersive multiuser content in VIROO Room without the need of internet connection.
• VIROO Content updates: New scenes have been created and updated for any VIROO 2.4 user to make use of them.
• Latest headsets compatibility: VIROO integrates the full compatibility with the latest enterprise VR headsets.
• Identities management: VIROO adds identity management to enhance security throughout the platform.
• Data visualization and UI/UX improvements: More content information and better usability.

“VIROO 2.4 is the cutting-edge virtual reality technology that offers businesses a significant competitive edge. With its enhanced graphics, seamless interactions, improved performance, and expanded capabilities, VIROO 2.4 empowers businesses to deliver innovative solutions that exceed customer expectations. This is not only opens new revenue possibilities but also attracts customers who are seeking immersive experiences.” said Sergio Barrera, CTO of Virtualware.

Virtualware’s flagship product VIROO is the world’s pioneering VR as a Service (VRaaS) platform, makes Virtual Reality accessible to companies and institutions of all sizes and sectors. It is an all-in-one digital solution that enables the development and deployment of multi-user Virtual Reality applications remotely.

Headquartered in Bilbao, Spain, Virtualware is a global pioneer in developing virtual reality solutions for major industrial, educational, and healthcare conglomerates. Since its founding in 2004, the company has garnered widespread recognition for its accomplishments. In 2021, Virtualware was acknowledged as the world’s most Innovative VR Company.

With a diverse client base that includes GE Hitachi Nuclear Energy, Ontario Power Generation, Petronas, Iberdrola, Alstom, Guardian Glass, Gestamp, Danone, Johnson & Johnson, Biogen, Bayer, ADIF, the Spanish Ministry of Defense, Invest WindsorEssex, McMaster University, University of El Salvador and EAN University, and a network of partners worldwide, Virtualware is poised for further global expansion.

The FBA and BeFootball Forge Educational Partnership

The Football Business Academy (FBA) and BeFootball have entered into an agreement that will see the global leader in football business education and the Spanish immersive and VR Football company collaborate.


“We are delighted to welcome BeFootball into our network. As a tech company dedicated to creating a virtual reality universe for football, we see it as a natural fit for our mission of building the future of football together. The field of football has already been experiencing the influence of the metaverse and immersive technologies, and we are confident that this partnership will bring great value and innovative opportunities to our Candidates and community.”

– Lucia Estevez, Head of Communications, The FBA

“Working with a leading company in education within the football sector is really exciting. We are convinced that this is just the beginning of a long-term cooperation that will enable us to transform fan experiences in football and elevate education by training great professionals ready for the challenges of the present and future.”

– Eduardo M. Vélez, Head of Communications, BeFootball VR

Passionate and ready to demonstrate that elevating the fan experience in football is possible, BeFootball presents itself as a technological company that designs, develops, and markets immersive technologies for the industry.

BeFootball’s vision of creating a new category in the football industry has attracted agreements with entities such as the Estadio Azteca, as well as professional football players as investor partners and brand ambassadors. Prominent names such as Marcos Llorente (Atlético de Madrid), Marco Asensio (Real Madrid), Memo Ochoa (Unione Sportiva Salernitana 1919), and Aitor Ruibal (Real Betis Balompié), among others, have joined them.

The FBA’s Professional Master in Football Business selects Candidates from diverse academic and professional backgrounds who are exposed to real industry knowledge, networking opportunities and practical experience through the 12-months program.

With this mutually beneficial alliance we seek to collaborate on topics of strategic interest that will unlock valuable opportunities for both organisations, ensuring a holistic learning environment for our Master Candidates -future industry professionals- through internships; but also a variety of synergies aligned to BeFootball’s business plan and development strategies while enriching their teams with a high-quality talent pool. In addition, as the newest member of The FBA Family, BeFootball will also benefit from joining our global network with more than 75 Partners from the industry.


ABOUT BE FOOTBALL
BeFootball is a leading technological company, dedicated to the design, development, and commercialization of immersive technologies for the football industry. With headquarters in Spain, Mexico, Qatar, and soon in the United States. Among its products and services, they are creating the digital twin of the Estadio Azteca, unique experiences for various partners, and the world’s first immersive football academy.

VIRTUALWARE INKS A €1.16M MULTI-YEAR AGREEMENT IN CENTRAL AMERICA TO INTRODUCE ITS VIROO PLATFORM IN LOCAL UNIVERSITIES.

Bilbao, April 11, 2023 – Spanish technology company Virtualware, one of the European leaders in the virtual reality industry, has signed a multi-year contract with Corporación Digital SA de CV under which the company will further introduce VIROO at the University of El Salvador.

The agreement is worth approximately €1.16 million. As a result of the contract, Virtualware guarantees the University of El Salvador the use of VIROO subscription plans for the next three years including the installation and maintenance of six additional VIROO VR rooms at different university campuses.

Corporacion Digital, a member of VIROO’s Partner Program, has been dedicated to the development of innovation projects in the area of ICT and Audiovisual in Central America for more than two decades. From its HQ in El Salvador, the company has been working in the Private, Academic, and Public sectors, looking for those unattended technology needs that impact on the new forms and trends of information processing.

“We are thrilled to bring our VIROO platform to the University of El Salvador and help improve the way people teach and learn. With VIROO, Central American teachers will have the ability to create and deploy virtual reality learning resources and activities autonomously, making the Virtual Reality-driven content creation process much simpler and valuable”Unai Extremo, Virtualware CEO & Founder

Virtualware’s flagship product VIROO, the world’s pioneering VR as a Service (VRaaS) platform, makes Virtual Reality accessible to companies and institutions of all sizes and sectors. It is an all-in-one digital solution that enables the development and deployment of multi-user Virtual Reality applications remotely.

“This multi-year agreement with Corporación Digital is a significant milestone for Virtualware as we continue to expand our reach and establish VIROO as the standard for developing industrial and educational Virtual Reality applications worldwide.”

adds Extremo

VIROO is already used by more than 40 companies and institutions worldwide including GE Hitachi, Ontario Power Generation, Gestamp, ADIF, the Spanish Ministry of Defense, El Retoño Technological University, and EAN University. 

“We have found VIROO to be one of the most complete and adaptable solutions for the education and training needs that our region is beginning to demand. Through this agreement, we will improve the way many people teach and learn at the University of El Salvador”

Luís Segovía, Managing Director of Corporación Digital

The enterprise VR platform has been the backbone to develop strategic projects for defense ministries, critical infrastructure training projects, and innovative educational programs. VIROO aims to become the standard for developing industrial end educational Virtual Reality applications worldwide.

Founded in 2004, Virtualware is one of the pioneering companies in the field of Virtual Reality, where its team of more than 50 people has already developed more than 500 projects in more than 33 countries. It is headquartered in Bilbao, Spain, and has a North American office in Hamilton (Canada).

The corporation will go public on Euronext Paris on April 20 in a bell-ringing ceremony to be presided over by the company’s two founders, Unai Extremo, and Sergio Barrera. The listing will take place in the Access segment and follows a year and a half of preparation.

Euronext is the pan-European stock exchange that groups together the stock exchanges of Paris, Amsterdam, Brussels, Oslo, Milan, and Dublin.

 



SPANISH VR COMPANY VIRTUALWARE TO BE LISTED ON THE PARIS STOCK EXCHANGE

Bilbao, February 16, 2023.— Spanish technology company Virtualware, one of the European leaders in the virtual reality industry, will be listed on the Paris Stock Exchange in the coming weeks.

To this end, it has already filed the corresponding application with Euronext, the pan-European stock exchange that groups together the stock exchanges of Paris, Amsterdam, Brussels, Oslo, Milan, and Dublin.

Virtualware, founded in 2004, is one of the pioneering companies in the field of Virtual Reality, where its team of more than 50 people has already developed more than 500 projects in more than 33 countries. It is headquartered in Bilbao, Spain, and has a North American office in Hamilton (Canada).

For the last decade and a half, it has been developing immersive solutions oriented to the industrial world and counts among its client base multinationals and institutions such as GE Hitachi, Ontario Power Generation, Petronas, Iberdrola, Alstom, Guardian Glass, Gestamp, Danone, Johnson & Johnson, Biogen, Bayer, ADIF, the Spanish Ministry of Defense, El Retoño Technical University or EAN University, to name a few.

Following approval by Euronext, the IPO will take place in the Access segment and follows a year and a half of preparation.

Virtualware’s CEO, Unai Extremo, explained that “this is an important step in our path towards the growth and global expansion of our company, especially in the US and European markets. The IPO will strengthen our global position, increase our visibility and add a wider community of stakeholders to our mission.”

At the end of 2021, the company, whose majority partners are its CEO Unai Extremo and Sergio Barrera, its CTO or chief technology officer, was recognized as the world’s most innovative company at the VR Awards 14 months ago.

Its product VIROO, the world’s pioneering VR as a Service (VRaaS) platform, makes Virtual Reality accessible to companies of all sizes and sectors. It is an all-in-one digital solution that enables the development and deployment of multi-user Virtual Reality applications remotely.

VIROO has received a patent in the United States and was named the best enterprise Virtual Reality solution at the VR Awards in 2019. The platform is already used by companies worldwide and has been used to develop strategic projects for defense ministries or critical infrastructure training projects. VIROO aims to become the standard for developing industrial Virtual Reality applications worldwide.

Virtualware also participates in Evolv, a medical and digital health device manufacturer specializing in developing rehabilitation solutions based on immersive technologies.

According to the annual report published by the company at the end of 2022, the company received ISO 27001 certification in recent months, signed contracts with leading international organizations, such as Ontario Power Generation, Gestamp, Janssen, Invest WindsorEssex and the University of El Salvador, and began participating in events jointly with Microsoft in the United States.

The company will announce the exact listing date and valuation in the coming weeks.

How Nestlé is scaling virtual reality to train employees

In cooperation with VRdirect, Nestlé has rolled out a VR training at the Nescafé factory in Girona, northern Spain, to teach safety instructions and traffic rules on the company’s giant premises. The VR training is designed to help employees become aware of potentially dangerous areas and avoid accidents, like those where forklifts and electric pallet trucks are used.

Through 360-degree images and videos of the company premises, employees gain an understanding of the situation at hand. Using control buttons, they interact with the relevant safety instructions or answer questions about the appropriate action to take.

The VR training covers, among other things, safe routes across the premises that are heavily frequented by trucks, hygiene regulations before entering the production halls, the safety check before and when using an electric pallet truck, as well as traffic rules and signals in the warehouse that guide the many forklifts in operation.

In addition, Nestlé creates flexibility and scalability of VR solutions across all locations. A long-term partnership with VRdirect’s experts supports Nestlé’s professional launch of their global VR strategy.

Advantages for VR for training:
- Practice dangerous tasks or “what if” scenarios with no risks in virtual environments with VR training
- Enhance performance with VR training
- Improving safety with Virtual Reality training
- Offer decentralized Virtual Reality training to expand the availability

Call for Sponsors: Best Spanish VR AR Companies in the World (Report)

For more info, email info@thevrara.com

The VR/AR Association (VRARA)  is producing an industry report on the country's VR/AR ecosystem to promote Spanish companies and organizations involved with immersive technologies and media.

The report will specifically highlight the following:

  • Size of the market

  • Number of relevant companies in region

  • Company info (size: number of employees, revenue; vertical, customers)

  • Solutions examples

  • Customer examples

The report will be promoted via VRARA channels and our partners, which includes: 
Our global newsletter to 27.000 emails, on our website (20.000 unique visitors per month), and social media (1M user reach), over 70 events around the world, podcast (200K listens), and via our partners.

See our other Publications here