BANGALORE, India – January 04, 2002 – In an effort to enhance its focus on products, Bangalore-based VirtualE3D has launched VCollab, a visual collaboration tool that can be used to collaborate with any 3D tool. The company has made an investment of Rs 2 crore towards the development of VCollab and has filed for patent rights. Official sources state that talks are on with several defence establishments in India and the US for acquiring early customers for VCollab. “With most companies like BHEL and Telco planning to establish their own Virtual Reality (VR) centres, the market is ripe for a product like VCollab. We are also planning to tap the markets in Germany and the US,” says Prasada Mandava, CEO, VirtualE3D. He adds that the company is hoping to rope in General Motors and Boeing as customers. By 2004, Mandava wants products to account for more than 70 percent of the company’s revenues. VirtualE3D clocked revenues worth Rs 1 crore during 2000-2001 and aims to become a Rs 50 crore firm by 2005.
The company is in the process of forging strategic alliances with hardware vendors catering to the VR industry in order to penetrate into the markets of US and Germany. It recently signed up with Elumens Corporation, USA and has bundled its software with the latter’s VisionStation series of products. “Aligning with hardware vendors gives us easy access to our target segment. We are looking at forging more such alliances in the future,” says Mandava. According to him, the company expects to cement another alliance by January 2002. He says the company will break-even by March 2002.
VirtualE3D is an engineering software and services company specialising in digital enterprise solutions. The company’s core competency lies in providing product life cycle management services to various industries. This includes 2D to 3D conversion, 3D modelling, 3D Web, CAD translators, CAD customisation, design and analysis, visualisation and simulation, digital mock-ups and virtual prototyping, and product data management. VirtualE3D’s business models include consulting, outsourcing, and product development.