New executive joins VR Education board after HTC takes 20pc stake

WATERFORD-based VR Education has appointed HTC executive Praveen Gupta to its board of directors, effective immediately.

VR Education develops virtual reality (VR) training and education products that make it easier to collaborate on tasks remotely, create content and learn. Demand for such remote working and remote learning tools has exploded during Covid-19 lockdowns.

HTC, which was once one of the world’s biggest smartphone companies, is now a virtual reality specialist.

The appointment of Mr Gupta comes after HTC earlier this year invested €3m in the company for a 20pc stake in the business.

HTC can have a presence on VR Education’s board as long as its stake remains above 10pc.

The deal with HTC includes a strategic partnership for the distribution and licence of VR Education’s ‘Engage’ platform globally.

Mr Gupta is currently vice president, corporate investment and development at HTC, based in San Francisco, in addition to positions held on the boards of five Cloud and VR-focused companies.

He has particular skills in business development, strategic investment and advisory, and M&A activities, according to a statement from VR Education.

During his career Mr Gupta (61) has held positions at a range of large and high-profile technology companies across America and Asia, most recently as vice president, corporate business development at SK Telecom Americas, part of the mobile carrier in South Korea.

He has also held a number of strategic advisory and business consultancy roles.

Richard Cooper, chairman of VR Education, said: “I am delighted to welcome Praveen to the board following HTC’s investment and strategic partnership.

The board looks forward to working with him and I am confident that the group will benefit from Praveen’s considerable experience.”

In 2018 VR Education raised £6m (€6.7m) when it listed on the London and Irish stock exchanges.