xReality Group Limited (XRG) builds immersive XR products and experiences that enhance lives. xReality Group’s portfolio includes physical and digital simulation used across the enterprise, defence and consumer markets.
XR stands for eXtended Reality, and is a catch-all term for Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR). Extended Reality combines physical and digital simulation for both consumer and enterprise market segments.
The XR category is growing rapidly with the market predicted to grow from US $26B in 2020 to US $905B in 2027. Facebook’s parent, Meta, is investing $10Bn US/year alone into accellerating development of the Metaverse.
The Company was founded by two ex-SAS soldiers to bring the joy of simulated human flight to the region through cutting edge indoor skydiving facilities.
In recent years, the Company has expanded its simulation portfolio from indoor skydiving to include out of home virtual reality entertainment, defence XR training and XR software development.
The Company listed on the ASX on 18 January 2013 as Indoor Skydive Australia Group Limited (ASX:IDZ) and was rebranded to xReality Group Limited ASX: XRG on 8th December 2021.
xReality Group companies include XR production company Red Cartel, Defence simulation company Operator Tactical Solutions, two Australian Indoor Skydiving Facilities, and FREAK Virtual Reality venues.
Enterprise: Red Cartel
Red Cartel are one Australia’s leading experts in VR, AR, XR, location-based entertainment and premium animated content for Games, Venues and Enterprise. The company has over 20 years of experience servicing a large number of industries including Oil & Gas, Entertainment, Mining, Healthcare and Government. Previous clients include Shell, Red Bull, eBay, Qantas, Cadbury, KPMG and TAFE.
As well as continued growth of their existing client based business, Red Cartel is focused on creation of games for FREAK and development of Defence and Industry XR solutions for Operator.
Defence: Operator Tactical Solutions
Launched in August 2021, Operator builds training and operational simulation products for global defence and law enforcement agencies, using Virtual Reality and Augmented Reality technologies.
Operator was created to solve the problem of integrating training and operational planning with technology, increasing soldier’s performance and complementing existing training and operational systems. Operator has been established to focus on Defence and related projects within the company.
Consumer: Indoor Skydiving
XRG uses world leading technology to construct indoor skydiving facilities which simulate the free fall experience usually felt when skydiving. The specially constructed vertical wind tunnels include a flight chamber which allows individuals or groups to fly within the tunnel and perform aerobatic manoeuvres in a safe and controlled environment. Indoor Skydiving facilities are used by tourists, enthusiasts and the military (including the Australian Military) and active skydivers.
XRG owns and operates 2 indoor skydiving facilities, iFLY Downunder in Penrith, Sydney and iFLY Gold Coast in Surfers Paradise, QLD.
Consumer: FREAK Entertainment
In December 2019, XRG launched the first “retail scale” free roam virtual reality business in Australia, FREAK Entertainment.
FREAK flagship experiences include free roam, multiplayer virtual reality games, escape rooms and adrenaline fuelled racing simulators delivered in high traffic, retail spaces.
FREAK currently has four venues including Penrith, Gold Coast, Westfield Bondi Junction and Macquarie Centre (Sydney).
FREAK also offers a take home VR experience, FREAK in a Box. FREAK’s newest experience is an ultra realistic car racing simulator, FREAK Drive, which debuted at Macquarie Centre and is rolling out to all venues through FY22.