vTime Limited Raises $7.6M In Series A Round To Create New And Unique Forms Of Engagement Across New Realities

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vTime Limited is a communications company that creates new and unique forms of engagement across new realities. Its products offer users the most immersive and intuitive way to engage with others in VR/AR/MR/XR from wherever they are.

Below is our recent interview with Clemens Wangerin, Managing Director at vTime Limited:

Clemens Wangerin

Q: Could you provide our readers with a brief introduction to vTime?

A: Our first release, vTime; a VR Sociable Network, is currently available on Windows Mixed Reality, Google Daydream, Google Cardboard, Samsung Gear VR, Oculus Rift and iPhone. It will be available on more VR platforms throughout 2018 and beyond. vTime works cross-platform to connect users with each other, regardless of their VR HMD of choice, and allows them to chat and share media together in our beautifully realized 3D environments.

Q: You’ve recently announced $7.6m in Series A round; could you tell us something more?

A: The investment comes at a great time for us and allows us to do more of the things that we feel sets us apart in the market. One of those is our cross-platform functionality and this investment will get us closer to 100% market coverage this year, in terms of being out on every VR format available to the consumer. We’re currently on 6 formats and are working towards being available on more than 10 formats by Christmas 2018.

We are also able to leverage our existing core technology and cloud-based network infrastructure to develop additional products for AR/MR/XR and partnerships for B2B/B2C use-cases of our enabling technology in telecommunications, remote conferencing & collaboration, and entertainment (media/sorts).

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Q: What it’s like to ‘go out’ in VR?

A: It’s like being transported to another world. And if you want to know what that feels like, stick an HMD on and try out vTime. There are several things at play when you put on an HMD – especially if it’s for the first time. We’re proud of the sense of immersion and presence that people experience when they are in vTime. In our experience, the more immersed and “present” the user feels in VR (even though they are sat at their desk or on their couch”), the more they suspend their belief and accept that they are somewhere else. In our case, that could be Paris, Outer Space or in a National Park for example. The possibilities are almost endless.

The stories we hear from the vTime community often center around encounters where somebody said that they have met a NASA Scientist who was hanging out with them on the space station talking about his job, or about someone from Paris who was practising their German with someone from Berlin the night before a real world trip to Germany, or the single parent who had young children in bed at home, but who was able to feel like they were out socialising with others, meeting new people, even though they were in their living room.

vTime is simply an incredibly powerful way to connect with people and to make people feel connected that’s objectively better than any of the traditional methods of voice or video call.

Q: Why is now the time for a technology solution like vTime?

A: Because the new forms of computing that are either already here or are coming, VR/AR/MR/XR, will change everything. Not overnight, not everywhere, and not to the exclusion of everything else, but we are working hard so that existing and future vTime products are well placed to be a part of this change and maybe even drive some of it.

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Q: What can we expect from vTime in the future?

A: We haven’t even really started and still have a long way to go. Our immediate roadmap covers the next few years and our long-term vision the next couple of decades. No doubt interesting possibilities are going to continue presenting themselves along the way. There are some more partnerships we’re hoping to announce soon which will possibly help our profile in the b2b space, which we expect to be more active in going forward.

Our continued focus is on being best in class in everything we do and on building some world-class XR products and services that showcase our advanced immersive technology.

Last Updated on August 26, 2018