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The Chennai-based publishing technology and services company TNQ Technologies today announced that it has invested $2 million in the city-based immersive technology solutions provider, InGage, to create a new joint-venture, TNQ InGage.
Consequent to the transaction, InGage Technologies will cease to exist as an independent entity, and all its employees, intellectual property and customer relationships will become part of the newly-formed joint venture, a press statement from the company said.
Long-term strategy
“We see the future of content consumption leveraging immersive AR and VR environments, and have made this investment in TNQ InGage as part of our long-term strategy,” said Abhigyan Arun, CEO, TNQ Technologies.
“TNQ Technologies will continue to focus on its existing publishing client base and extend the AR/VR expertise of TNQ InGage to them as a new service line,” he added.
Set up six years back, InGage is a digital customer engagement company that blends augmented reality (AR), virtual reality (VR), mixed reality and immersive digital experience to customers across a wide range of industries to help them build their brands.
The company has completed more than 500 projects and has over 250 customers and several intellectual properties (IPs) to its credit.
Immersive experience
TNQ InGage will utilise the fresh capital towards product R&D to improve human interaction with virtual objects, through haptics and photo-realistic rendering.
The product development will include integration and optimisation of display, algorithm and software to provide a true immersive experience.
The company will also invest a portion of the capital to scale up its services business. “TNQ Technologies' investment as a long-term strategic partner will help us with growth and scalability. We are already investing in R&D to improve human interaction with virtual objects,” said Vijay Karunakaran, CEO, TNQ InGage
He also added that TNQ InGage is looking at expanding in the global market, including the book-publishing world, by leveraging TNQ’s existing capabilities and competencies.
“We have worked with various industries earlier but from now on, we will focus and put all our energy in three sectors — manufacturing, construction and healthcare — where we see tremendous growth opportunity,” Karunakaran added.
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