1. Startups

Shinta VR and Application of Metaverse in the B2B Segment

Just pocketed pre-series A funding led by TigaLapan Investama Group

Since its establishment in 2016, the business Shinta VR claimed to have experienced a positive increase. Not only in terms of innovation, but also more and more target markets and strategic partners. Still focused on targeting the B2B segment, now Shinta VR is preparing to bring greater innovation to the market virtual reality enthusiasts in Indonesia.

"I see that in 2022 there will be more demand for VR devices in Indonesia. Proving that VR technology is increasingly known and used by all people," said Shinta VR Managing Director Andes Rizky to DailySocial.id.

In particular, currently Shinta VR has three superior products, namely educational products for schools, services human development for training company employees, as well as platforms entertainment/new media. Shinta VR has also helped thousands of schools in 34 provinces in Indonesia use 3D and VR technology in learning through its business units, namely Millealab.

With strategy 'community based content' Millealab has succeeded in creating a broad impact on the world of Indonesian education by producing 5200 trained teachers and 130 VR teacher ambassadors since 2019, and has been used by hundreds of schools throughout Indonesia.

"Each product has its own strengths which, when integrated, can provide impact broad and relevant. To accelerate growth, the company also plans to expand its target market," Andes said.

Asked whether in the future Shinta VR will also work on Gaming, Andes emphasized that the trend of games using VR technology in the future is more multiplayer. Even though they have the potential to be developed, they still feel reluctant to go into it. There are two reasons, firstly it takes large resources to create these innovations. Second, the market share in the B2B segment is still wide and tends to be easier to monetize.

Pocket A pre-series funding

Shinta VR Team with TigaLapan Investama Group

At the end of October 2021, Shinta VR announced that it had pocketed A pre-series funding led by TigaLapan Investama Group and Investa Syailendra Nuswantara (INSAN) as business/investment aggregator. This funding complements previous acquisitions by Telkomsel Innovation Center (TINC), Rentracks, and several angel investors.

In 2022, Shinta VR also has plans to continue funding to the series A stage.

The company plans to use the fresh funds to recruit more engineer teams and conduct product research internally to support the company's mission to expand its business. With this investment, Shinta VR focuses on becoming a company metaverse most impactful in Indonesia.

"The development of Shinta VR since 2016 until now has experienced positive growth. After running the business bootstrap Now we are able to partner with investors who have strategic connections to help Shinta VR's business," said Andes.

Their focus is targeting the B2B segment by presenting educational products and services human development considered very relevant today. So far, the company claims to have succeeded in obtaining revenue of the products they present.

Besides Shinta VR, companies that develop VR/AR technology in Indonesia are Festivo, DCIMAJI, Magnate, ARnCO, Octagon Studio, Primetech, Avergo, Omni VR, Invoya, INVR, DAV, Varcode. All of these companies are currently members of the Indonesian VR/AR Association (INVRA).

Application metaverse in Indonesia

In Indonesia itself, VR technology is now increasingly known. Judging from the more marketplace who sell VR devices, making this technology more familiar among the public. Support from the government is claimed to be getting bigger, with more and more local companies playing in the VR industry today.

More Coverage:

Is Indonesia currently ready to apply the concept of metaverse? According to the Andes in general today metaverse has been enjoyed by the people of Indonesia. Through online games nature semi-metaverse, directly the Indonesian people are accustomed to interacting even though they do not directly enter the community metaverse which are actually. The technology used also doesn't have to be 5G, with 4G you can get good results.

"Metaverse I think it involves more emotional connection. If you play games like Among Us, for example, it can be categorized as metaverse, but not yet included in the definition metaverse which are actually. Even now, devices for VR are increasingly affordable and widely sold in various countries marketplace. It means we are ready, just add immersive, connections, and emotional connection, said Andes.

Even though it's very wide definition of metaverse, but according to the Andes there are small planets that can still be used to support business. One of them is to focus on education and human development. With data integration and others, later it can also be connected to metaverse more like meta-commerce, blockchain, to NFT. Added by him when talking about metaverse the thing to note is how to make the right connection,

"For example, for education in schools, you can get data insights to measure behavior students learn in a virtual world, as well as human development by getting more complex data. Then for virtual character system You can also get data on emotional connections that interact virtually," Andes said.

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