vTime Holdings Ltd is currently developing IP and content for virtual reality (‘VR’) and augmented reality (“AR) across entertainment, communication and lifestyle sectors.
vTime Holdings Ltd was founded in November 2013 by entrepreneur Martin Kenwright. Martin previously founded Digital Image Design in 1989 which was acquired by Infogrames in 1999, and also founded Evolution Studios in 1999 which was subsequently acquired by Sony Computer Entertainment in 2007. The Company is headquartered in Liverpool and currently employs around 40 full time staff.
Immersive technologies like VR and AR are accessed through either an All-In-One HMD (Head-mounted display), a PC/Mobile-tethered HMD, or through an iOS/Android device with ARKit/ARCore. The Company is focused on developing and publishing virtual and augmented reality engagement software, which is platform-agnostic and oriented for both consumer and commercial use, accessed via mobile, PC, or dedicated All In One HMDs. VTime believe that their current product ‘vTime XR’ became the first cross reality social network in Feb ’19 and is available to consumers worldwide through official app stores on Gear VR, Cardboard (on both iOS and Android platforms), Oculus Rift, Daydream, Windows Mixed Reality, Oculus Go, Lenovo Mirage Solo which accounts for 75% of the addressable HMD market (excluding China). The Company possesses a high pedigree, led by an experienced and award-winning management team.
According to the Summary of the Market Research Report (Feb 2017) On “Global Virtual Reality Market (Hardware and Software) and Forecast to 2020”, provided by iGate Research, the virtual reality market could surpass US$40 billion by 2020 and the Company is targeting for vTime to become one of the leading brands in the world for immersive engagement experiences and to be at the forefront of immersive technologies for the latest AR/VR wearables and 5G/Edge, as consumer adoption ramps. The Company is also considering a large number of potential commercial uses across a range of industries such as sports and entertainment generally, music, education and health care. The company reports it’s working on their 2nd product, a new location-based AR messaging app for release later in 2019 and has other products in the pipeline. This proposed new AR app will initially be available for Apple’s ARKit platform on iOS followed by Google’s ARCore on Android, giving the app a combined addressable market forecasted to surpass approximately 3bn in 2020, according to AR Insider.
According to Statista, around five million virtual reality headsets were sold worldwide in 2016.
The VR and AR market is a rapidly developing market place that is currently attracting substantial high-level attention with companies across various sectors eager to understand the customer engagement and communication opportunities via the medium of virtual and augmented reality for the delivery of their brands and services. Forthcoming new VR hardware, such as Oculus Quest, will continue to drive adoption while Mark Zuckerberg has publicly stated Facebook’s aim of getting 1bn people into VR.
In January 2016, vTime was recognised by the press as the ‘First Virtual Reality Social Network’ (Daily Mail) with its app release for the Samsung Gear VR.
All the key players of the VR industry, namely Google, Samsung, Oculus, HTC, Microsoft and Sony, have completed the consumer launches of their respective VR platforms, namely Cardboard and Daydream, Gear VR, Rift, Vive, Windows Mixed Reality and PlayStation VR respectively, with talks of more HMD variants on the way.
In 2016, the world-renowned technology analytics firm Gartner named vTime ‘Cool Vendors’ in their Mobile Consumer Applications report. Previous ‘Cool Vendors’ include Dropbox and Instagram (both in 2011). The Company was also one of three finalists for the 2017 Merseyside Innovation Awards on 11th July.
Region: UK: North-West
Eligible Tax: EIS
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