VR Education sign up with D’Carrick in 3- year deal

Irish Virtual Reality creators, VR Education have struck a deal with D’Carrick Co. Ltd, a South Korean immersive digital content company, in its first foray into the Asian education market.

The agreement with D’Carrick provides VR Education with an important entry point into the South Korean education market for the company’s ENGAGE[1] platform, an online virtual social learning and presentation platform. ENGAGE is a powerful virtual reality collaboration and creation tool, that allows educators and corporate trainers to host meetings, classes, private tutorials, training sessions and presentations with people from all over the world, participating in a safe, virtual, multi-user environment.

D’Carrick, together with its partner FIX GAMES, uses the latest technologies to create educational programmes for the South Korean education system, providing continuous innovation across various VR and AR platforms. Having pre-tested previous versions of the ENGAGE platform, the agreement with D’Carrick will bring VR Education’s innovative technology to a broader client base.

The deal will see D’Carrick:

• roll out the ENGAGE virtual reality platform to a set number of students in South Korea
• resell the ENGAGE platform

David Whelan, CEO of VR Education, commented on the distribution agreement,

“In today’s digital era, modern students are moving rapidly towards online learning and we have been delighted by the interest in our ENGAGE platform. South Korea continues to dominate the world rankings[2], being voted number one for four years in a row with one of the most educated populations in the world. This is in large part with thanks to the continued investment from the South Korean Government which spends 5% of GDP towards educating its 10 million plus students.

Our goal is to transform the future of education globally, by implementing new methods and techniques to make learning available to everyone, everywhere. South Korea is a proven world leader when it comes to education and D’Carrick’s adoption of our ENGAGE platform as a tool to provide education is a welcome first step in the Asian market.”

[1] At the time of the Group’s IPO in March 2018, VR Education raised £6 million gross to, amongst other activities, fund the further development of its proprietary VR education platform, “ENGAGE”. The URL for ENGAGE is www.engagevr.io.

[2] https://worldtop20.org/the-incredible-south-korean-education-system and https://www.master-and-more.eu/en/top-40-education-systems-in-the-world/

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.