NextReality

What NextReality does

NextReality is a Lisbon-based B2B digital services company that designs, develops, and maintains custom mobile applications, immersive AR/VR/XR experiences, web applications, 3D modeling, and Digital Twin solutions. It is operated as a brand under Tandem Innovation, Lda., a private limited entity within the IT People Group conglomerate, with a team in the 11–50 employee range. Its work spans native iOS (Swift) and Android (Kotlin) development, Unity and Unreal game-engine builds, Angular/C# web applications, and deployments on Microsoft HoloLens, Meta Quest 2, and ARKit / EasyAR platforms.

The company's client base is anchored by long-tenured Portuguese enterprise and institutional buyers, including Banco Best (mobile banking platform, 20+ upgrades since 2019), CTT Correios de Portugal (AR philately since 2012), BPI (Metaverse banking on Quest), Fundação Champalimaud (HoloLens-guided oncological surgery AR — Breast 4.0), NOS (5G-enabled VR schooling), EPAL (water-utility mobile app suite), EDP, ENEL, and REN, with select international delivery (ECA Dubai via Engage Works). Technology partnerships with Microsoft and Meta provide platform positioning within the dominant XR ecosystems.

The revenue model is project-based professional services across four streams: custom mobile app development, AR/VR/XR solutions, web application development, and 3D modeling / Digital Twins. Pricing is not publicly disclosed; engagements are scoped per client. Go-to-market is primarily direct B2B enterprise sales with consultative solution design, supplemented by case-study content marketing, industry event presence (e.g., Futurália), and distribution of consumer-facing applications through the App Store, Google Play, and the Oculus Quest Store.

Name

NextReality

Legal name

Tandem Innovation, Lda.

Website

https://nextreality.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

NextReality is a Lisbon-based B2B digital services firm building custom mobile apps, AR/VR/XR experiences, web applications, and Digital Twins for Portuguese enterprise and institutional clients, anchored by long-tenured engagements with Banco Best, CTT, BPI, and Fundação Champalimaud.

Ownership category

akta.pro rank

Product category

Immersive Technology Development Services

NAICS

Custom Computer Programming Services (541511)

SIC

Services-Computer Programming Services (7371), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Custom Application Development (Web/Mobile/Desktop) (BPAEAFAA)

akta.pro secondary industries

Metaverse & Social Virtual Worlds (BPAMAKAF), Digital Twins & Scenario-Based Systems Training (Equipment/Process Simulators) (EDAFAJAJ), Mobile/Digital Experiential (AR/VR, Interactive Installations) (MPAAAGAI)

Keywords

• Augmented reality solutions
• Virtual reality experiences
• Mobile app development
• Metaverse development
• 3D modeling services

Headquarters

HQ city

Lisbon

HQ country

Portugal

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Custom Mobile App Development: Design, development, and maintenance of native iOS and Android mobile applications for enterprise clients, including fintech (Banco Best banking app), government (EPAL water quality apps), and retail sectors
2. AR/VR/XR Solutions Development: Immersive technology solutions including augmented reality, virtual reality, mixed reality, and metaverse experiences for training, education, marketing, and customer engagement purposes
3. Web Application Development: Design, development, and maintenance of accessible web applications and enterprise productivity solutions using Angular and C# technologies
4. 3D Modeling and Digital Twins: Creation of realistic 3D representations of objects, spaces, and concepts, plus digital twin solutions for monitoring and optimization of physical assets

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

NextReality designs, develops, and maintains custom native mobile applications (iOS/Android), web applications (Angular/C#), and immersive XR solutions including augmented reality, virtual reality, metaverse experiences, and 3D modeling/Digital Twins for enterprise and institutional clients. Service engagements span mobile development, web development, UI/UX design, and immersive technology implementations across sectors such as banking, healthcare, telecommunications, energy, utilities, education, culture, and retail.

Product overview

NextReality delivers a portfolio of specialized XR (extended reality) solutions — encompassing Augmented Reality (AR), Virtual Reality (VR), Metaverse experiences, and 3D modeling / Digital Twins — alongside Mobile Development (native iOS/Android and wearables) and Web Development services. The core portfolio consists of named client projects spanning multiple sectors: the Best Bank App (mobile banking), Breast 4.0 (AR-assisted oncological surgery), BPI VR (banking metaverse), Firmo AR (AR retail), VisitAR (heritage AR/VR), WasteApp (recycling PWA), EPAL suite (H2O Quality, OnPocket, Wone — water utility apps), NOS Escola 5G (VR education), ECA Dubai (AR for policy), and the AMO-TE campaign (AR social filter). NextReality builds these solutions using Swift/iOS, Kotlin/Android, Unity, Unreal, ARKit, EasyAR, Microsoft HoloLens, Meta Quest, Angular, C#, and Microsoft Dynamics 365 Guides, targeting sectors including banking, healthcare, retail, heritage, utilities, and government.

Differentiator

Problem solved

Functional benefit

Products and services

• Mobile Development Services Design, development, and maintenance of scalable, secure native mobile applications for iOS and Android, as well as wearable devices such as AR/XR headsets, VR headsets, and head-mounted tablets. Targeted at enterprise and institutional clients across banking, healthcare, utilities, and government sectors.
• Web Development Services Design, development, and maintenance of accessible browser-based web applications and enterprise productivity solutions using Angular on the front end and C# on the back end. Targeted at enterprise clients requiring internal productivity tools and web platforms.
• Augmented Reality Solutions Augmented reality solutions overlaying digital content (2D/3D, text, images, videos) onto the physical world for training, learning, and engagement experiences, using platforms such as Apple ARKit, EasyAR, and Microsoft HoloLens. Targeted at enterprise clients in healthcare, education, retail, and cultural heritage.
• Virtual Reality Experiences Immersive 100% digital environments and worlds with interactive virtual objects and dynamics for training, education, banking, and entertainment, developed using Meta Quest 2 and engines such as Unity and Unreal. Targeted at enterprise clients seeking immersive VR applications.
• Metaverse Development Building presence and experiences in metaverse environments, as demonstrated by the BPI Metaverse banking branch project. Targeted at enterprise brands seeking immersive customer engagement in metaverse platforms.
• 3D Modeling and Digital Twins Creation of realistic 3D representations of objects, spaces, and concepts, including architectural projects and mechanical components, plus digital replicas (Digital Twins) of physical assets for monitoring and optimization. Targeted at enterprise clients in architecture, manufacturing, and operations.
• UI/UX Design Services UI/UX design services combining client ideas with NextReality's design experience to produce intuitive, modern, and appealing digital solutions. Targeted at enterprise clients requiring user-centered interface design across mobile, web, and immersive applications.
• Best Bank App A 100% digital mobile banking platform developed natively for iOS and Android with a web component for Banco Best, featuring security, convenience, and innovation as core pillars. Delivered for Banco Best (a digital bank with global offering) with over 20 application upgrades since 2019.
• Breast 4.0 An augmented reality surgical navigation tool for oncological surgery, overlaying 3D tumor models from MRI images and 3D body scans onto the patient in real time using Microsoft HoloLens. Developed for Fundação Champalimaud, enabling non-invasive real-time surgical guidance.
• BPI VR A virtual reality banking experience for BPI deployed on Oculus Quest, offering immersive customer service with account managers, an exclusive Portuguese Football Federation zone, and a gamified stadium experience. The first Portuguese bank branch in the Metaverse, available at BPI branches in Saldanha, Rossio, Marquês, Chiado, Estoril, and Cascais.
• WasteApp A recycling and waste-disposal guide application for Quercus, available as a PWA and native iOS/Android app, enabling citizens across Portugal to locate the nearest recycling and reuse points for approximately 50 types of waste residues.
• CENFIM Holographic Training Guides Holographic step-by-step training guides for CENFIM, created using Microsoft Dynamics 365 Guides with Desktop Authoring and HoloLens applications, overlaying holographic instructions onto real equipment for hands-free vocational training.
• NOS Escola 5G A virtual reality educational experience for NOS's 5G school initiative, using Meta Quest 2 headsets and a Double Robotics telepresence robot equipped with a 360-degree camera to enable students to take immersive virtual field trips spanning 300 km in real time.
• VisitAR A mobile AR and VR application for the Museu de Arte Pré-Histórica e do Sagrado do Vale do Tejo (Mação), available on iOS and Android, enabling visitors to explore and interact with the heritage of Mação through augmented and virtual reality experiences, including the submerged Rocha 155 engravings.
• Firmo AR An interactive mobile app for Firmo (school supplies manufacturer), available on iOS and Android, featuring a Moodmeter with exclusive content, AR-powered product visualization in real space via smartphone camera, and a store locator, built using the EasyAR SDK.
• AMO-TE by MO An augmented reality social media filter campaign for MO (retail brand), deployed on Instagram and Facebook for World Pregnant Day, triggering AR effects through a kiss gesture to share family-increase announcements.
• ECA Dubai An interactive AR experience for the Early Childhood Authority in Dubai, developed for iOS using ARKit and Unity, combining data with creativity and play to allow policymakers to view the world from a child's perspective. Developed in partnership with Engage Works.
• EPAL H2O Quality A geolocation-based mobile water quality checker for EPAL (Lisbon water utility), available on iOS and Android, providing daily updated water quality data for the Lisbon region in 13 languages, including calcium, magnesium, chlorine, pH, and hardness parameters.
• EPAL OnPocket An internal employee support and operations mobile app for EPAL, providing news and alerts, HR procedures (expense claims, vacation scheduling), daily task management, occurrence reporting, cafeteria reservations, and a map of EPAL facilities.
• EPAL Wone An operational support mobile application for EPAL field technicians, providing real-time dashboards, incident reporting and tracking, and map-based visualization of operational locations to accelerate decision-making and reduce water-supply disruption repair times.

Quantifiable outcome

• Over 20 application upgrades delivered for Banco Best since 2019
• +2 more outcomes

Named customers22 records

Segments7 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• MicrosoftcoreTechnology or IntegrationTechnology partnership utilizing Microsoft HoloLens devices for augmented and mixed reality solutions. NextReality has worked with HoloLens since 2016, developing projects in healthcare, industry, and events sectors including the Breast 4.0 surgical navigation system.
• MetacoreTechnology or IntegrationVR technology partnership using Meta Quest 2 devices for immersive virtual reality experiences. NextReality has developed Quest 2 projects since 2020 for tourism, banking, and events sectors including the BPI Metaverse banking experience.
• Tandem Innovation Lda.flagshipStrategic or Co-development PartnerParent company and legal entity controlling NextReality operations. Located at Praça de Alvalade, n.º 7, 2.º Andar, 1700-036 Lisboa. Responsible for data processing and marketing operations.
• IT People GroupcoreStrategic or Co-development PartnerParent group company encompassing Tandem Innovation Lda. IT People Group comprises multiple companies including IT People Innovation (sister company), and utilizes security measures to protect candidate and user data.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• REWIND: UK-based creative XR studio delivering bespoke VR, AR, and immersive brand experiences for enterprise clients using Unity/Unreal — same custom XR services model as NextReality, just at larger scale and with stronger UK/US client base.
• Groove Jones: US creative technology studio specializing in AR, VR, and WebGL experiences for Fortune 500 brands and agencies — directly comparable custom XR development services with similar reliance on Unity/ARKit stacks.
• Scope AR: Enterprise AR solutions provider with WorkLink and Scope Assist products for knowledge capture and remote assistance — comparable AR development services targeting industrial, manufacturing, and training use cases overlapping NextReality's CENFIM work.
• Marxent Labs: US-based XR solutions provider focused on AR/VR for retail, home furnishings, and product visualization — comparable custom XR development services targeting enterprise verticals.
• UNIT9: Global creative technology production company with deep AR/VR/interactive practice serving major brands — comparable custom immersive content services for enterprise marketing and engagement use cases.
• Warpin Media: German XR agency building VR, AR, and metaverse experiences for enterprise marketing, training, and events — comparable European XR services studio with similar professional-services revenue model.
• Tin Drum (formerly Amplify): London-based immersive technology studio building AR/VR experiences, metaverse environments, and interactive brand activations — directly comparable custom XR services for marketing and enterprise clients.

Broad incumbents

• 8th Wall: WebAR development platform owned by Niantic enabling browser-based AR experiences — broader incumbent in the XR ecosystem that competes for similar enterprise AR marketing and engagement budget.
• The Glimpse Group: US publicly-traded immersive technology platform comprising multiple XR-focused subsidiaries — broader, scaled presence across AR/VR services that competes for similar enterprise immersive engagements.
• Deloitte Digital (Extended Reality practice): Global consultancy with dedicated XR/AR/VR practice serving enterprise transformation, training, and customer experience — represents the scaled incumbent NextReality competes against for large enterprise immersive deals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NextReality