Virtualware celebrates 20 years of VR innovation and unveils new strategic plan

PARIS, FRANCE: Virtualware, a leading company in virtual reality solutions, marked its 20th anniversary yesterday with an open letter from its CEO, Unai Extremo, announcing a new strategic plan for 2024-2026.

The plan outlines the company’s vision to continue innovating and expanding in the global market of virtual and augmented reality.

“Today, as we celebrate two decades of pioneering VR, we’re excited to unveil our strategy for the next phase of growth and innovation,” said Extremo in his letter. “We have a clear roadmap to set new standards in the immersive technology industry and deliver value to our customers, partners, and stakeholders.”

The strategic plan is based on four key pillars: expanding and focusing on VIROO, the company’s flagship VR as a Service (VRaaS) platform; delivering excellence in VRaaS products and services for various industries; fostering social impact and sustainability within the industry; and attracting top talent to create a stimulating, inclusive work environment.

According to Extremo, the company aims to enhance VIROO’s global presence, especially in the United States, by exploring new market opportunities and technological advancements. VIROO is a cloud-based VR platform that enables users to create, manage, and distribute immersive content across multiple devices.

The company also seeks to provide high-impact VRaaS solutions for different sectors, such as education, healthcare, and industrial training. Virtualware has already partnered with prestigious institutions and organizations, such as McMaster University, GE Hitachi Nuclear Energy, and the Spanish Ministry of Defense, to develop innovative VR projects using VIROO.

Additionally, the company is committed to fostering sustainable practices within the industry and amplifying its social impact. Virtualware has been recognized for its contributions to the United Nations’ Sustainable Development Goals and its support for various social causes, such as accessibility, diversity, and inclusion.

Finally, the company recognizes the importance of skilled professionals and is committed to creating a stimulating, inclusive work environment for industry-leading talent. Virtualware has a team of over 100 experts in VR, AR, software development, design, and engineering, and is always looking for new talent to join its ranks.

As part of its strategic vision for the future, Virtualware also announced that it is actively exploring opportunities for inorganic growth by identifying compatible companies for potential mergers or acquisitions. This approach is aimed at expanding the company’s reach, enhancing its technological capabilities, and accelerating growth in the rapidly evolving virtual and augmented reality markets.

Virtualware’s leadership team is committed to seeking out synergistic partnerships that align with their innovative vision and can contribute to the company’s ongoing success and expansion in the global marketplace.

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.

The company is based in Bilbao, Spain, and has offices in Hamilton, Ontario, Canada. Its shares trade in Euronext from April 2023 under ticker MLVIR.

Virtualware to team up with ART at AWE EU 2023 to showcase the latest advancements in VR

irtualware partners with VRLOGIC to expand VR CAVEs business in Asia-Pacific