Banglore, INDIA – April 29, 2002 City-based VirtualE3D, an engineering and software products and services company specialising in visualisation, collaboration and CAD translation software products, has entered into an agreement with the University of Texas (UTA) to develop nano-technology and micro electro mechanical systems (MEMS) related products.
Speaking to eFE, VitualE3D MD Prasad Mandava said, “Vcollab, our virtual reality (VR) visualisation tool is used by the University of Texas for the US government’s nano-technology research” UTA will also develop nano-technology and MEMS related products using V-Collab, which the UTA and VirtualE3D would jointly bring to the market, Mr Mandava said.
“The tie-up will help us get into the hi-tech areas of the market in the US and other developed countries,” Mr Mandava said.
The company also plans to offer UTA’s VR-related distance learning certificate courses to students in India.
VirtualE3D, a self-funded enterprise that started operations in March 2001 with an investment of around Rs 1 crore, is looking at the aerospace, automotive and engineering segments of the domestic market. The company, which has 40 people at present, hopes to increase the number to 100 by the end of the year, at an additional investment of Rs 1 crore. “The company is in talks with venture capitalists (VCs) to raise $1-2 million for market expansion activity in the US, European and APAC markets and to strengthen its infrastructure,” Mr Mandava said.
“The company is also in talks with major academic institutions in the country to set up virtual reality (VR) centres and to start courses in VR and nano-technology-MEMS design,” Mr Mandava said.
VirtualE3D, which has offices in the US and Germany, has a customer base that includes Gulf Aero, Daimler Chrysler, Aeronautic Development Agency (ADA), Centre for Artificial Intelligence and Robotics, etc. “We are in advanced stages of talks with many other defence labs in India as well as abroad,” Mr Mandava said
VirtualE3D has strategic alliances with companies catering to the VR industry like Dassault Systems and Silicon Graphics for product development, and with Elumens Corporation to resell their products in India.
VirtualE3D also planned to enter the Web collaboration market and would launch its VCollab.net in August, Mr Mandava said.