Entropia acquires 360-video business from Singapore-based Vostok VR
The 360-video business of Singapore-based virtual reality company Vostok VR has been acquired by independent Malaysian agency Entropia.
Vostok VR was launched in Singapore in June 2014 and has been funded by Mediacorp since 2016 after being selected as one of the most promising startups at the media conglomerate’s incubator programme for entrepreneurs. It also won a Mumbrella Asia award last year in the category Most Engaging 360 Video / Virtual Reality or Augmented Reality Work.
It has worked on brands like Discovery Channel, Mediacorp, Uber, AirAsia, Marina Bay Sands, DBS Bank, OCBC Bank, Nestle, and the Singapore Business Federation.
Entropia has been pushing a hybrid consulting meets agency model and incidentally was also a star performer at last year’s Mumbrella Asia Awards winning in the categories Innovation, Best Use of Experiential and Social Idea of the year.
Commenting on the acquisition, Entropia founder and senior partner Prashant Kumar 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.”
Entropia partner finance and investments Pavan Kharbanda 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.”
Vostok VR founder Vitaliy Nechaev said: “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.”