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  • Infinite Reality secures $3 billion investment to drive immersive technology innovation

    Infinite Reality secures $3 billion investment to drive immersive technology innovation

    MUMBAI:  Immersive technology and digital media innovation firm Infinite Reality (iR)  has closed a landmark $3 billion equity investment from a private investor specializing in global technology and real estate. The funding underscores confidence in iR’s vision for the next generation of the internet, leveraging extended reality (XR) and artificial intelligence (AI).

    The investment positions iR as a major player in the rapidly growing immersive technology sector, projected to reach nearly $1 trillion by 2030. CEO John Acunto emphasised the company’s commitment to empowering businesses and creators with tools to craft immersive digital experiences while retaining full ownership of their data and customer relationships.

    “This fundraise validates our mission to build an immersive platform that powers the next era of the web,” said Acunto. “Our customers can now seamlessly transition from 2D websites to immersive spaces, optimising their operations and unlocking new revenue opportunities.”

    IInfinite Reality plans to leverage the funding for continued expansion, including acquisitions, partnerships, and product development. Key recent milestones include:

    * The significant expansion of iR’s MENA presence through partnerships with both public and private sectors. This rapid growth is highlighted by multiple high profile collaborations, including the development of advanced digital twin technologies for practical applications such as interactive training and safety demonstrations for the UAE ministry of finance, as well as the recent unveiling of the digital twin of the DMCC Crypto Centre. The momentum will continue to build with upcoming prominent projects across the region including Saudi Arabia, Qatar, and beyond, encompassing initiatives with government entities, tourism authorities, and premier real estate developers.

    *  The $450 million purchase of Dubai-based Landvault (now iR Enterprise) which has built over 1.2 million square feet of virtual experiences for countless high-profile brands including Mastercard, Standard Chartered, Hershey, a Cannes Lion-winning Heineken campaign with Dentsu, groundbreaking activations with Hershey in Decentraland, and the innovative World of Women experience in The Sandbox.

    * The closing of multiple acquisitions, including the $250 million acquisition of the Drone Racing League, the $75 million purchase of Ethereal Engine, Action Face, and Stakes. These deals strengthened iR’s capabilities in computer vision and spatial web technology, gaming, robotics, and more.

    * Continued work with Warner Bros. Discovery Sports, including the launch of the FIM SGP-VERSE app, the world’s first socially interactive and fully immersive speedway experience with features such as customisable camera streams, an exclusive pit reporter feed and on-demand video content. 

    In addition, iR is advancing its Florida innovation hub, transforming a former Superfund site into a state-of-the-art headquarters in Fort Lauderdale, expected to create thousands of jobs and bolster the region’s technological leadership.

    Co-founder Amish Shah noted that the investment, secured as equity without debt, allows iR to execute its vision without restrictions. “This partnership provides us with unparalleled resources to grow through innovation, acquisitions, and global market expansion.”

    Infinite Reality’s iR Studio, a no-code immersive SaaS platform, will see further enhancements to democratise access to XR technology. By combining AI and proprietary tools, the company aims to make immersive digital experiences accessible and scalable for brands and creators worldwide.

  • Emerging technology an integral part of sports consumption by fans: Capgemini

    Emerging technology an integral part of sports consumption by fans: Capgemini

    MUMBAI– Capgemini, the official Global Innovation Partner of the Men’s and Women’s HSBC World Rugby Sevens Series since January 2018, has launched a new report, ‘Emerging technologies in sports: reimagining the fan experience’. The study, using responses from over 10,000 fans around the globe who regularly watch and follow top sports, has been produced by the Capgemini Research Institute.

    The study shows that for 69 per cent of fans, the use of emerging technologies, such as virtual reality (VR), artificial intelligence (AI) and augmented reality (AR), has enhanced their overall viewing experience both inside and outside the stadium; a positive experience with technologies also enhances overall fan engagement. Of respondents who liked their technology experiences, 56 per cent said they would actually go to more physical matches at their team’s stadium as a result, and 60 per cent said they would stream more matches online. 

    49 per cent of fans have often increased their spending on team merchandise following a good experience and 42 per cent have increased this spend a few times, while 92 per cent said they increased their spend on online subscriptions for watching matches (either often or a few times). The report also shows that fans who have experienced emerging technologies during a recent visit to a stadium are more satisfied with their experience overall, highlighting a 25-point NPS® (Net Promoter Score) difference between fans who have experienced emerging technologies and those who have not.

    Sports fans from Asian countries lead in using emerging technologies

    Fans from Asian countries – including India, Hong Kong, and Singapore – lead in the adoption and acceptance of emerging technologies in sports. Close to three-quarters of Asian fans (74%) have experienced the use of emerging technology in the stadium, with India leading at 88%. However, this drops to 56% for the United States, 50 per cent for Germany, and below 50 per cent each for Canada, France, United Kingdom and Australia. Furthermore, 71 per cent of Asian fans said they would be willing to pay more if new technologies enhanced their stadium experience, compared to 40 per cent of North American fans, 34 per cent of European fans, and 33 per cent of Australian fans.

    Adoption of emerging technologies can convert more followers into avid fans

    Emerging technologies can also convert and upgrade more fans to become avid fans who generate more business and positive word-of-mouth on having a good tech-enabled sports experience. For example, 73% of avid fans attend more matches following a good tech-enabled experience, compared to 50 per cent of the rest, and nearly three-quarters of avid fans watch a match in the stadium when their favorite team is playing.   

    Emerging technologies are helping athletes perform better and avoid injuries

    Athletes are increasingly using a variety of emerging technologies for activities, including training, injury prevention and tracking performance. For example, Zone7, a company using data and analytics for identifying and avoiding potential career-threatening injuries to athletes, has achieved 95% accuracy in predicting injuries and has been able to reduce potential injuries by 75 per cent.

    Tom Mitchell, Captain of England’s Rugby Sevens Team said, “The use of virtual reality in reviewing training sessions and matches can have a big impact on sports. If you can put yourself in a given situation instead of just reviewing a match by watching a video, then the learning and reviewing experience becomes much more real. If you are able to be in that situation again, either through VR or another technology, it would be a massive step up in terms of the reviewing and learning experience.”

    Strategies to unlock the value of emerging technologies in sports

    Sports organisations across the world are now presented with a huge opportunity to tap into evolving consumer expectations and make far more customised and personalised fan engagement. According to the new report, organisations can focus on the following areas to adopt and optimise emerging technologies in sports: 

    • Reassure fans on usage of personal data by seeking consent where possible on use of data, being transparent about the use and protection of consumer data, and demonstrating the value that consumers stand to gain with this data exchange,
    • Identify user needs before investing in and deploying emerging technologies, 
    • Convert more fans to ‘avid fans’ by defining a digital fan experience and offering ‘hyper-personalised’ experiences, 
    • Build digital practices, capabilities, and transform organizational culture by investing in a digital culture, skills, and cross-sharing of information across sports organisations to drive greater innovation.

    Capgemini global digital customer experience practice leader Darshan Shankavaram said, “The use of emerging technologies in the fan experience is an exciting and rapidly growing area. Sports organisations across the world have a huge opportunity to tap into evolving expectations of fans and athletes to build a more joined up, customized and personalised engagement experience. Additionally, organisations can benefit by using technology to improve players’ performance or prevent injuries, or for coaches to strategise the play through simulations.”

  • Kerzner ties with Discovery, Nickelodeon and MTV in bid for IR

    Kerzner ties with Discovery, Nickelodeon and MTV in bid for IR

    MUMBAI : Kerzner-CapitaLand in the bid to build Singapore’s second integrated resort has signed exclusive deals with Discovery Channel, Nickelodeon, MTV and Johnson’s.

    Kerzner-CapitaLand is banking on a fully integrated family concept to secure its bid for the Sentosa integrated resort, asserts an official release.

    Kerzner International Holdings president Tobin Prior said, “MTV is the leading music network in Asia and we believe Nickelodeon is the leading youth TV network in Asia. And we believe that they give us very important content to leverage off and very important exposure into those markets.”

    Both MTV and Nickelodeon will establish state-of-the-art interactive television studios within the resort where young visitors can interact with Nick characters and celebrities during live programming.

    Discovery, on the other hand, will run a kids’ camp on marine life – for children aged 3 to 12, while baby-care specialist Johnson’s will provide baby travel kits and professional baby-sitting services for visitors to the resort.Kernzer is also planning to build a hi-tech aquarium on Sentosa, which will include Aqua Labs where visitors can find imaginatively curated collections and futuristic technologies, adds the release.

    There will also be a 300-seat 4D theatre within the aquarium and an Atlantis Lab where students can participate in hands-on experiments.On the retail end, Kerzner highlighted a chocolate and candy factory and an ice-cream station, targeted at young spenders.

    “I think the distinction between us and the others is what we can develop in an integrated fashion that’s going to appeal to families both from a facility point of view and, very importantly, from a programming and operating point of view,” Prior said.