Meet GIGXR, the new owner of all Pearson Immersive Learning Group assets, a subsidiary of education and media publishing giant Pearson.
Formed specifically to accumulate Pearson's virtual and augmented reality assets, GIGXR is managed by David King Lassman, founder of Vyclone media streaming company. and the venture capital firm of Southern California White Hart Ventures.
The serial entrepreneur had been in talks with Pearson for most of the year to acquire the virtual reality and virtual reality assets of the company. Initially established as part of a collaboration with Microsoft In 2014, when the company began working on its Hololens, the media giant is separating the team while exploring the broader sale of certain assets.
The group has intellectual property for virtual and augmented reality training programs for hospitals, nursing schools and universities, according to a statement.
Based in Los Angeles, GIGXR now has flagship products that include HoloPatient and HoloHuman, mixed reality training programs for medical schools that operate with the new Hololens 2 headphones.
"We are delighted to continue our partnership with GIGXR right after our launch of HoloLens 2, which has been incredibly well received, "said Dan Ayoub, General Manager of Mixed Reality Education at Microsoft, in a statement." Our collaboration with the GIGXR suite of applications and team of technology entrepreneurs and opinion leaders will dramatically impact the way the world uses mixed reality solutions to improve learning now and in the future. "
Operating at the intersection of the $ 252 billion educational market and the $ 61 billion extended reality industries, GIGXR is actually exploiting one of the few veins where virtual reality has found a real problem for the customer. As a business training tool, virtual and augmented reality headsets are following a similar trajectory to Google's pioneer (and very defamed) crystal technology.
If there is a place where emerging technology can be adopted, it is in companies where there is a real use case for the technology. Whether in the assembly line or in human resources training, companies are turning to virtual and augmented reality in a way that consumer buyers have not done.
In fact, Pearson customers, including the Texas University of Technology, the University of Queensland, the Bucks County Community College, the University of Canberra, the University of Leeds and other campuses in the USA. The US, Australia and the United Kingdom will continue to receive support from GIGXR for their augmented reality influenced curriculum.
Lassman said the company had raised $ 1 million in initial financing and would seek to raise additional capital in the first half of 2020.