Edtech business looks to raise €5m in IPO
Educational technology business Immersive VR Education is preparing to float on the Irish stock market.
The company is looking to raise as much as €5m 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 to date.
It 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 company told the Sunday Independent 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 said.
Sunday Indo Business