TNQ invests $2M in JV with InGage to explore AR & VR market in India
TNQ Technologies, a Chennai-based publishing technology and services company, has invested $2 million in a joint venture (JV) with augmented reality and virtual reality solution provider InGage to launch TNQ InGage.
This JV will focus on developing technology solutions using Augmented Reality, Virtual Reality, and Mixed Reality (AR, VR, MR) integrated with IoT and analytics, for enterprises in the healthcare, manufacturing, and construction industries.
Speaking about the joint venture, Abhigyan Arun, CEO, TNQ Technologies, said,
“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 six 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 extend the AR/VR expertise of TNQ InGage to them as a new service line.”
Vijay Karunakaran, Founder & CEO, TNQ InGage, said,
"Over the last six 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."
TNQ InGage will be focussing investments towards product R&D to improve human interaction with virtual objects, through haptics and photo-realistic rendering. The company’s goal is to develop VR products and services for the healthcare and industrial sectors, in the areas of training and rehabilitation.
(Edited by Dipti Nair)