Seattle, Washington, Feb. 02, 2016 (GLOBE NEWSWIRE) -- BELLEVUE, Wash. – VRstudios, a technology company that enables businesses to design, physically move through and interact within fully-immersive virtual environments, has come out of stealth mode to announce its first shipments of product, company officials announced today.
During the fourth quarter of 2015, the company secured millions of dollars in new orders and, since December, has delivered and installed its systems in countries including the U.S., China and France. The company is also working with organizations in Asia, the Middle East and Canada and expects to have systems installed in those countries by the end of Q1.
“Over the past year, we’ve deployed and tested our platform in a number of commercial settings including aerospace, construction, architecture and entertainment,” said VRstudios CEO Charles Herrick. “The result is a comprehensive system that makes it easy for businesses to design, deploy and distribute VR applications that solve real business needs. This also includes the delivery of next-generation entertainment.”
The VRstudios system offers a completely untethered, full physical movement tracking, interactive and immersive experience that supports multiple participants in the same virtual space so that they can interact with each other and their environment. The system includes headsets, cameras and interactive devices. The company provides a system development kit for use by development partners.
In September of 2015, the company announced a $1.3 M round of seed funding that formally closed in December. Since that time, the company has opened a second round that is expected to bring in several million dollars of additional investment by the end of Q1, 2016.
According to research data from Statista, revenues for virtual reality-related hardware and software reached $2.3B worldwide in 2015, a number that is expected to climb to $5.2B by the end of 2018.
About VRstudios
VRstudios designs, markets and sells a proprietary virtual reality platform that enables industry-specific businesses and entertainment companies alike to design and utilize highly-customized VR solutions. At the heart of the platform is the capability to design and interact in fully-immersive virtual environments that simulate real and fictional environments for a number of purposes ranging from the design of virtual buildings that allow for pre-construction walk throughs to super-realistic gaming environments. More information on the company can be viewed online at www.vrstudios.com
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