Virtual conferencing firm, Virtway, raises €4m for UK expansion

Virtway, which claims to be the world’s largest 3D virtual conferencing platform, has raised €4m to launch in the UK, marking its first expansion outside of the company’s native Spain.

The move follows high demand for the product in the UK and the USA.

Founded in 2014 by Spanish entrepreneur Jose Antonio Tejedor, Virtway provides ‘online 3D virtual experiences’ such as conferences, fairs and training sessions.

Companies like AstraZeneca, Accenture, and Manpower are already using the platform, which allows users to choose their own avatar, present, talk and network in real time.

Virtway says it is helping organisations ‘significantly reducing their carbon footprint through reduced travel, amounting to a far more cost-effective and greener alternative to physical events’.

Detailed data insights on audience participation helps them to better plan for future events.

The platform can be accessed through computers and both iOS and Android mobile devices making it easier than ever for event organisers to connect people from all over the world.

Events cost between £1,000 and £10,000, depending on the size of the event and their platform permits an infinite number of users to connect allowing 500 avatars to be present in the same virtual room not only from tablets and computers, but also from mobile phones.

In comparison, competitors have a limit of 50 users per room when connecting via mobile phone. In addition, Virtway attendees can talk, chat and network with other attendees from any device.

Jose Antonio Tejedor, founder and CEO, said: “This investment will be a great boost to what we hope will be a successful expansion in the UK following increased demand from English speaking countries. It’s a really exciting time for the company with a huge amount of interest in the product from companies and universities. The funding will be used to further improve the product and increase our footprint outside of Spain. It has come at a great time and we are looking forward to the next stage of our journey.”