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Vection Technologies

Extended Reality
Product stageSegments
Early
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AR/VR platforms, Content
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Vection Technologies headquartered in Australia, provides AR remote assistance and content creation tools, via its INTEGRATEDXR workflow. This comprises the following products:

1) Mindesk, a VR design review and real-time rendering tool for computer-aided design (CAD) and building information modeling (BIM). Additionally, the software integrates with other design tools including Rhino3D, Grasshopper, Solidworks, and Autodesk.

2) Enworks, an MR remote assistance platform for frontline workers, allowing for overlays of step-by-step instructions for machinery, accessible via Microsoft’s HoloLens 2 and Vuzix’s MR headset. 

3) 3DFrame provides a no-code platform for users to create assets for VR use. Use cases include the creation of presentations in a virtual 3D environment, being accessible on desktop as well. In May 2023, the company announced a 3DFrame integration with ChatGPT for prompt-based asset creation.

4) Configurator allows users to create AR assets for ecommerce purposes, allowing customers to overlay the created assets on their home to see if it matches the decor.

5) XRKiosk allows users to browse a store’s products in AR at a kiosk, effectively allowing customer self-service. 

In September 2023 , the company acquired Invrsion, a company specializing in 3D and MR solutions for fashion, retail, consumer goods, and real estate. The acquisition aimed to enhance the customer experience within the INTEGRATEDXR suite, helping the company with organic growth opportunities. Previous acquisitions include that of 

3D design platforms Blank Canvas Studios (April 2021), Mindesk (March 2020), and VR company Officine 8K (January 2019).

Key customers and partnerships

Notable Vection Technologies customers include packaging solutions company Coesia, property developer Blackburne, and digital security company SKIData Invrsion’s key customers include Walgreens, Ferrero, Nestlé, and Coca-Cola.

Partnerships include that with natural language processing company expert.ai to create AI avatars visible in mixed reality to aid with the troubleshooting process (May 2023).

Funding and financials

Vection Technologies was listed on the Australian Securities Exchange (ASX) in March 2017. The company recorded AUD 26 million in FY2023 revenue (~USD 15 million) and a loss per share of AUD 2.5 (~USD 1.6).

Extended Reality

Extended Reality

Key stats
Featured companies
240
Total funding (USD)
13.6 Bn
Total addressable market (USD)
100.4 Bn
Key competitors
 
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Company profile
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Recent Updates

M&A
Sep 5, 2023
Vection Technologies acquires Invrsion for undisclosed amount
Extended Reality

Company Brief


HQ location:
437 Roberts Road Suite 1 Perth AUS
Founded year:
2016
Employees:
101-250
Total Funding:
USD 15.0 million
Last Funding
USD 8.6 million, Nov 2021

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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