Chennai-based publishing technology and services company TNQ Technologies has invested $2 million in the city-based immersive technology solutions provider, InGage, to create a new joint-venture, TNQ InGage.
The new endeavor will focus on developing immersive technology solutions using Augmented Reality, Virtual Reality and Mixed Reality (AR, VR, MR) integrated with IoT and analytics. The solutions will provide enterprises in the healthcare, manufacturing, and construction industries, services such as immersive Training Simulators using Virtual Reality, field Service Tools through Augmented Reality AND DIgital Experience Centres for Industry 4.0
Highlighting the Joint Venture, Abhigyan Arun – CEO, TNQ Technologies said that, “TNQ Technologies is a 21 year old, 2,500 people-strong company focussed on publishing technologies and services. 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.”
“The extensive work InGage has done over the last 6 years under Vijay’s leadership, and the strong relationships with prestigious customers and partners, makes me confident that we have the right ingredients to establish ourselves as a leader in this technology and industry. TNQ Technologies will continue to focus on its existing publishing client base and will extent the AR/VR expertise of TNQ InGage to them as a new service line,” he said.
The global AR, VR market size is aimed at $100 bn in the next five years. In India, with the government now focussing on skilling & development, improved infrastructure supporting new forms of content delivery, and potential adoption of Industry 4.0, TNQ InGage will be focussing investments towards product R&D to improve human interaction with virtual objects, through haptics and photo-realistic rendering. The goal is to develop truly immersive world-class VR products & services for the healthcare and industrial sectors, in the areas of training and rehabilitation.
Vijay Karunakaran – Founder & CEO, TNQ InGage said, “Over the last 6 years we have delivered over 500 projects, generated extensive IP, and built a great team. 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. Our plan is to develop products and services that will have a meaningful impact on how people train, work and live. We are also looking at expansion in the global market, including the book-publishing world, by leveraging TNQ’s existing capabilities and competencies.”