SINGAPORE, 18 October 2019 – 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.
Since it was founded in Kuala Lumpur in July 2016, Entropia has seen explosive growth in the region, becoming one of the top marketing services groups in Malaysia, offering services across consulting, communication, CX and eCommerce. 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 trainings, sales roadshows and company presentations, incorporating Augmented Reality, volumetric video and VR holograms, Mixed Reality, 360 commercial video and presentations, 360 VR animation and interactive VR.
The company, funded by Mediacorp since 2016, was selected as one of the most promising startups 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 video, Virtual Reality and Augmented Reality work, VOSTOK VR has won several international and regional awards in Asia and the United States.
Commenting on the acquisition, Prashant Kumar, Founder & Senior Partner at Entropia said, “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.”
Pavan Kharbanda, Partner, Finance & Investments at Entropia added, “While traditional services are getting increasingly commoditised, we continue to invest in areas that can bring a unique competitive advantage to our clients – and in turn generate better returns for our business via such diversification.”
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 really excited about what this partnership brings to us.”