XR software suite to support industrial site operations and management

Policy approach(es) used to catalyse investment: Development of a national, regional, or sectoral InfraTech strategy

Technology approach(es) used to catalyse investment: Novel core technology

Finance approach(es) used to catalyse investment: Strategic investment by a corporate partner

VIRNECT technologies help facilitate digital transformation in industrial sites as companies need to increase the efficiency of operations across the global supply chain in the remote, post-COVID world. VIRNECT uses augmented reality (AR) to allow remote collaboration among multiple industrial sites in different locations. Its solutions include:

• AR Glass enables remote collaboration among headquarters and other sites.
• VIRNECT Twin enables remote monitoring of industrial sites to prevent industrial hazards.
• 3D Point Cloud technology enables development of firmwide monitoring solutions for the industrial sites of global enterprises.

It is often difficult for industrial sites to have experienced specialists on-site, and even more difficult for global companies to have a control tower on every industrial site. Through its AR technology, VIRNECT enables these companies to efficiently manage their industrial sites, including improving industrial efficiency and employee safety. VIRNECT distributes its solutions in Asia and aims to distribute globally, providing positive impacts across the infrastructure of various industries.

VIRNECT's solutions offer several benefits:

• They do not require much power or extensive computing resources. They can be operated in environments where there is limited connectivity, low power, and limited hardware. VIRNECT also successfully developed its own AR SDK system, and its solutions can be customised to clients' individual industrial sites. Many Korean conglomerates that have global operations are adopting and adapting VIRNECT’s technology to enhance operational efficiency.
• They enable remote collaboration, an advantage during the pandemic. For example, the company’s main client, LG, used VIRNECT’s AR solution to remotely manage overseas facilities when technicians could not visit global sites due to pandemic travel restrictions.
• They enable remote monitoring of industrial sites, which is an attractive solution for companies that have industrial sites far from their headquarters.
• The software developed by VIRNECT can identify and accumulate specific data in such environments, which makes it very competitive among its peers that often need certain level of power and stable connectivity.

VIRNECT credits the policy environment in Korea as an enabler of the development of technology. Supporting policy includes the Digital New Deal and the Immersive Economy Development Strategy, and the Occupational Safety and Health Act mandated in Korea.

Note: This case study and all information within was submitted to the GI Hub by STIC, in response to our global call for InfraTech case studies. STIC Ventures is a 100% subsidiary of STIC Investments, General Partner of the fund that invested in VIRNECT.