This investment will be made in next three-to-five years on creating low cost Virtual Reality (VR) educational content and device for learners.
Delhi-based educational group, MBD Group, which has recently diversified into different sectors including hospitality, skill development and real estate is set to invest Rs 50 crore in the next three to five years on creating low cost Virtual Reality (VR) educational content and devices for learners.
“Virtual reality and augmented reality are the new frontiers of education and present an exciting opportunity for the sector. We will be investing upwards of 50 crores in the next three to five years towards development and expansion of our AR and VR educational contents portfolio,” said Monica Malhotra Kandhari, managing director, MBD Group.
“We will also be looking at the overseas market like US, UK, Singapore and China, where the market for such products has already been developed,” she added.
MBD Group which launched an Augmented Reality app ‘Nytra’ in 2014 to provide content for students from Kindergarten to Grade 12 of the formal education system has witness decent uptake – 44759 online downloads and over 100,000 offline have been done for Nytra till date.
Encourage from this, MBD will now showcase a new line of virtual reality based content and device including an interactive 3D virtual reality simulations at the upcoming International Book Fair in January 2017.
An early adopter of Augmented Reality in education, the company also plans to deliver high quality VR content for vocational courses and skill courses in the informal education sector. Company informs that its VR content will be compatible with all leading VR devices like Samsung Gear, Oculus Rift etc, for wider accessibility.
As part of its virtual reality initiative, MBD will be developing interactive walk through such as the solar system, the zoo and other educational environments, and virtual interactive zones within the school premises for students.