Vection Technologies joins Facebook virtual reality development program, launches multi-user real-time engineering platform

Real-time software company Vection Technologies (ASX: VR1) has entered the Facebook Oculus Independent Software Vendor (ISV) program through its Mindesk North America division.

Oculus is a brand of Facebook Technologies (a subsidiary of Facebook Inc) that produces virtual reality headsets.

The program works with enterprise developers and ISVs to accelerate customer adoption of virtual reality solutions built by Oculus.

Vection qualified for the program by meeting key criteria including: being an enterprise that has previously deployed commercial solutions; having at least one global 2K customer; and being focused on virtual reality training, simulation or collaboration.

The company will advance the program to accelerate go-to-market and adoption from Oculus’ large user base, supported by Oculus resources such as multi-company work groups, webinars, technical expertise and assistance.

Vection managing director Gianmarco Biagi said working with Oculus and Facebook Technologies demonstrates Vection’s goal of establishing a long-term presence in the United States market.

Mindesk multi-user launch

Vection has also announced the launch of its Mindesk 2020.4 real-time design and engineering platform, following on from the launch of Mindesk 2020.3 in August.

Mindesk plugins are tailored to a technical audience of designers, architects, engineers and CAD users who want to edit their design in virtual reality or view their work in real-time within third-party graphic engines.

Mindesk 2020.4 introduces features to help teams work on the same commercial CAD project through multi-user virtual reality sessions for design and review, or for brainstorming of new ideas.

It allows users to collaborate with colleagues on the same CAD model using Rhino 6 and Solidworks 2019/2020 software packages.

Mr Biagi said the product represents a “strong leap forward” in the development of Mindesk software and aligns with Vection’s objective of bringing cloud and LAN collaboration features to market.

Capital raising

Vection has received firm commitments for a $6 million capital raising via the placement of 66.7 million fully paid ordinary shares at $0.09 each.

The raising will add to existing cash reserves to give Vection $9 million in cash to further accelerate its growth strategy and short-term objectives.

These include advancing its technology solutions across the healthcare, education, automotive and defence sectors, and accelerating development of its markets in North America, Europe and Australia.