Belfast Telegraph

Educational tech firm plans to float on Irish stock market

By Gavin McLoughlin

Educational technology business Immersive VR Education is preparing to float on the Irish stock market.

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The company is looking to raise as much as €5m (£4.4m) and aiming to complete an IPO before the summer.

It would list on Dublin's Enterprise Securities Market and AIM in London. Its backers include Enterprise Ireland and venture-capital firm Kernel Capital.

Money raised would be used to build the brand and develop the software further, as well as for other purposes.

The business has developed a software platform designed to provide lectures and other types of educational content in virtual reality.

Set up in 2014, it is run by chief executive David Whelan and has raised €1.3m (£1.1m) to date.

Immersive VR Education said its "vision for the future is to see virtual reality become a staple tool for education and training and we strive to produce quality experiences that demonstrate this".

The firm said that it is "reviewing a number of options in order to attract further capital investment into the business".

"It is the company's policy not to comment further until discussions are complete and a decision is made with regard to any further investment secured," it added.

Belfast Telegraph