Wednesday, 5 July 2017

Who are the virtual reality and augmented reality startups

Virtual reality (VR) and augmented reality (AR) revenues are set to rocket from £4.2 billion in 2016 to more than £130 billion in 2020 according to research from the International Data Corporation. The UK plays home to a number of emerging players in the industry hoping to cash in on the boom. A recent report by GrowthEnabler estimated that of more than 800 companies working in the segment worldwide, more than 150 are based in the Britain. Here's our pick of the ones to watch out for.Buckinghamshire-based EdTech startup MEL Science has taken VR to the chemistry lab. Russian physicist Vassili Philippov founded the company to teach his children about science through a combination of practical training and virtual reality. The startup kit includes a cardboard VR headset, chemistry equipment, and two sets of experiments to start. Another two are delivered to their door every month of the subscription. After conducting a real experiment with the equipment, budding chemists can don the goggles, boot the MEL Science app, and explore their work on a molecular level, viewing, manipulating and even building atoms. The company was founded in 2015 and launched its virtual chemistry lab in June 2017. In October 2016 it raised $2.5m in Series A funding from Sistema Venture Capital. The subscription service is available to customers in the UK, US, and Russia, and costs £38.90 per month including shipping.
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