CHennai-based TNQ Technologies on Wednesday said it has formed a joint venture with InGage, called ‘TNQ InGage’, and will invest USD 2 million (about Rs 14 crore) into the entity.
InGage will cease to exist as an entity, and its people, intellectual property and customer relationships will fold into this JV, a statement said.
“Apart from its USD 2mn investment, TNQ Technologies will provide management expertise and access to its sales channels for TNQ InGage’s growth. TNQ Technologies will continue to focus on its existing publishing client base and will extend the AR/VR expertise of TNQ InGage to them as a new service line,” it added.
The solutions will provide enterprises in the healthcare, manufacturing, and construction industries with services like immersive training simulators using Virtual Reality and Haptics, field service tools through Augmented Reality and Internet of Things (IoT) and digital experience centres for Industry 4.0.
InGage is a media creation studio providing creative, live action, motion design, animation and post-production services to entertainment studios, advertising agencies and corporations throughout the world.
According to InGage’s LinkedIn company page, the company has launched an multi-brand Augmented Reality Mobile Platform/App called “InGage” on Apple itunes and Android Google Play designed for brands to engage with their customers in an interactive way for all their brand messaging, promotions and other communication.