SINGAPORE – Entropia Group, the new age consulting-meets-agency offering, has announced the acquisition of the 360 video business from award-winning Singapore-based Virtual Reality (VR) company, VOSTOK VR.
Founded in Kuala Lumpur in July 2016, Entropia has seen explosive growth becoming one of the top market services groups in Malaysia offering services across consulting, communication, CX, and eCommerce. Late last year, the company opened an office in Manila, Philippines, its first international expansion in the region.
And now, continuing on its quest to bring a different approach to marketing, the company seeks to deepen its client base in the Extended Reality areas with this acquisition.
VOSTOK VR was founded in Singapore in June 2014 and has since completed more than a hundred VR/360 production assignments, both in Asia and Europe. During its work in the Asia region, VOSTOK VR worked with a diverse range of customers, including Discovery Channel, Mediacorp, Uber, AirAsia, Marina Bay Sands, DBS Bank, OCBC Bank, Nestle, and the Singapore Business Federation, among others.
Its offering spans creating interactive experiences across product launches, market activations, interactive training, sales roadshows, and company presentations, incorporating Augmented Reality, volumetric video and VR holograms, Mixed Reality, 360 commercial video and displays, 360 VR animation and interactive VR.
The company, funded by Mediacorp since 2016, was selected as one of the most promising start-ups to watch at Mediapreneur Incubator (Mediacorp’s incubator programme for innovative start-ups), with projects featured on Channel News Asia, Today Online, Stuff, Mumbrella Asia, The Straits Times, e27, and more. On top of that, in recognition of its outstanding 360 videos, Virtual Reality and Augmented Reality work, VOSTOK VR has won several international and regional awards in Asia and the United States.
With the acquisition, Prashant Kumar, Founder & Senior Partner at Entropia commented, “Extended reality experiences are set to enhance the quality of consumers’ lives by changing the way we learn, play, sell, work and love. We are committed to bringing best in class expertise in the area to our clients, and this acquisition of VOSTOK VR’s 360 video business is a promising beginning towards that.”
“Traditional services are increasingly getting commoditized. We continue to invest in areas that can bring a unique competitive advantage for our clients and in turn generate better returns for our business via such diversification,” added Pavan Kharbanda, Partner, Finance & Investments at Entropia.
Vitaliy Nechaev, Founder of Vostok VR, commented, “We met with Prashant right after the Mumbrella Asia Awards 2018, where both VOSTOK VR and Entropia triumphed. We’ve done some great work together and continue to collaborate on several projects across the region, so I am excited about what this partnership brings to us.”
