VIRNECT

About VIRNECT

VIRNECT is a South Korean technology company founded in 2016 by CEO Taejin Ha, specializing in developing industrial extended reality (XR) and digital twin solutions. The company originated from the KAIST UVR Lab and has established itself by creating enterprise-grade software for remote collaboration, maintenance, and training. VIRNECT aims to enhance safety, efficiency, and productivity in industrial settings by connecting virtual and real environments.

The company's business model revolves around a suite of proprietary software products, offered through a subscription-based, public cloud service. The product lineup includes VIRNECT Remote, an AR-powered multi-user remote collaboration tool that works across devices like smart glasses and smartphones. VIRNECT Make is a no-code platform for creating and distributing AR content and workflows, while VIRNECT View allows for the visualization of this content. Additionally, VIRNECT Twin facilitates the creation of digital twins for real-time facility monitoring and process optimization. The company serves a diverse client base in sectors such as energy, manufacturing, automotive, and defense, including major corporations like Samsung Electronics, LG Chemical, and Korea Electric Power Corporation (KEPCO).

Since its inception, VIRNECT has achieved significant milestones, including securing a $30 million Series B funding round in early 2022, which was one of the largest for an XR company in Korea. This funding has supported the company's global expansion, which includes research centers in Austria and new offices in Europe and the United States. In 2023, VIRNECT successfully completed its Initial Public Offering (IPO) on the KOSDAQ exchange. The company has completed over 100 projects and holds more than 100 intellectual property rights.