NIIT (USA) Inc., a wholly owned subsidiary company of NIIT Learning Systems Limited ("NIIT MTS", "Company") has invested USD One million in 8% Convertible Notes of StriVR Labs Inc., USA as a part of its strategic initiatives.
Strivr is a leading provider of extended reality (XR) based learning solutions to Fortune 1000 companies in USA.
Incubated at Stanford University's Virtual Human Interaction Lab (VHIL), Strivr was founded in 2015 by Derek Belch, then graduate student and assistant football coach for the Stanford Cardinal along with Jeremy Bailenson, Stanford professor and VHIL founding director.
Strivr offers customizable content, data analytics to track user performance, and realistic simulations to develop practical skills. By leveraging virtual reality technology, Strivr enhances engagement, improves skills, and reduces training costs, making it a leader in the XR based immersive learning space, with clients in Banking, Logistics, Retail, and Healthcare industries across the Fortune 1000.
Strivr reported revenue of USD 19.18 million in calendar year 2024.
This is a strategic Investment for NIIT MTS. The Company believes that the Investment in Strivr is in line with its stated strategy of investing in innovative companies in the Corporate L&D market. Strivr provides innovative Platform for training in the XR driven immersive learning space and has proven ability to scale outcome driven L&D across a distributed workforce. The strategic investment enables both companies to bring enhanced capabilities to each other's customers.
Shares of NIIT Learning Systems Limited was last trading in BSE at Rs. 430.70 as compared to the previous close of Rs. 426.85. The total number of shares traded during the day was 2182 in over 113 trades.
The stock hit an intraday high of Rs. 436.00 and intraday low of 419.50. The net turnover during the day was Rs. 932217.00. |
