Vection Technologies (ASX:VR1) - Managing Director, Gianmarco Biagi
Managing Director, Gianmarco Biagi
Source: Vection Technologies
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  • Vection Technologies (VR1) begins the week in a trading halt while it plans the details of an upcoming capital raising
  • The company will remain in the halt until December 1 or when more details are released, whichever occurs first
  • On Novermber 23, Vection released its FrameS Metaverse which allows organisations to autonomously build self-contained immersive metaverses
  • The metaverse is part of the development roadmap for the integration of FrameS with Webex by Cisco as an embedded app
  • Shares in Vection last traded at 27.5 cents on November 26

Vection Technologies (VR1) has begun the week in a trading halt while it plans the details of an upcoming capital raising.

The company will remain in the halt until December 1 or when more details are released, whichever occurs first.

Vection is yet to disclose how much it intends to raise or what it will use the funds for once received.

On November 23, Vection released its FrameS Metaverse which allows organisations to autonomously build self-contained immersive metaverses.

The metaverse is part of the development roadmap for the integration of FrameS with Webex by Cisco as an embedded app.

The app is expected to be completed in the second half of FY22.

Metaverse has been described as a set of virtual spaces where users can interact and explore the 3D world.

It has been rolled out to luxury brands including high-end fashion retailer Giorgio Armani and luxury yachts manufacturer Ferretti Group.

Shares in Vection last traded at 27.5 cents on November 26. The company has a $286.5 million market cap.

VR1 by the numbers
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