It’s been a busy week for Vection Technologies Ltd [ASX:VR1].
After teaming up with Facebook earlier this week (read about that here), Vection has now landed another major partnership.
This helped lift the VR1 share price 13.89% higher at time of writing. Another strong gain for this small stock.
Plus, it is just another win in what has been a milestone month for Vection, where they saw their share price more than triple from 6 cents to 20 cents.
When you’re teaming up with some of the biggest tech stocks in the world though, that is to be expected…
Honing the HoloLens 2
Officially, Vection will be joining the Autodesk Global Outsight Network Residency program.
A long-winded way of saying that they will be working directly with the Autodesk Technology Center. Which will, in turn, give them access to collaborate directly with Microsoft’s HoloLens 2 team. A division that has been working with Autodesk to prepare the HoloLens VR/AR headsets for real world applications.
Now, Vection will also become a key part of this process. Bringing their own software — Mindesk — into the fold as well.
As Vections Director of Technologies, Gabriele Sorrento, notes:
‘Vection Technologies’ leap into the BIM [Building Information Modelling] world represents a cornerstone evolution of our Mindesk Real-Time platform.
‘The integration with Revit [Autodesk software] will allow the Company to tap into an 11 million user base to further accelerate its growth strategy.
‘Revit is the most adopted BIM platform in the AEC industry and both existing and potential Mindesk customers have been waiting for Virtual and Augmented Reality to be natively integrated with their preferred BIM software. This development consolidates the ongoing relation with existing customers as it unlocks the synergic use of Rhinoceros and Revit into an immersive and collaborative workspace.’
Naturally, that will be a big deal for this budding tech stock. Not only in terms of exposure, but also netting themselves some much needed revenue.
Where to next for Vection?
As we noted in our last update, all this hype is great but it doesn’t address the money problem.
Vection needs more sales, not just partnerships. Otherwise, they run the risk of failing due to a lack of reliable cash flow more than anything.
Again, hopefully all these new avenues will lead to more sales. But with no firm contract commitments — it is hard to gauge how much, if any revenue will stem from them.
For that reason, investors should be wary before buying this stock.
For Money Morning
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