"We believe Verel will not also alter the 360 degree video viewing landscape but will redefine fundamental human experiences in areas like viewing real estate, sports tutorials and concerts, just to name a few," Mr O'Donnell said.
Since starting in 2015 the company now has a team of six who are based in Germany, Napier and Auckland and just recently they partnered with China tech giant Aukey.
"This has opened up the doors to endless possibilities and we are soon going to be releasing our own Verel VR goggles with Aukey as the manufacturer," Mr Pearce said.
"I remember my first pair were Auckey so when they said they would partner us I was thrilled. The headset market is booming and they are mandatory to have when looking at 360 video," Mr Reed said.
The VR goggles are going to be both environmentally and user friendly.
Mr O'Donnell said another game changing feature they were pleased to announce was the ability for real-estate agents to have full control of what the viewer was seeing.
This also related to other viewers as whether people were watching a rugby game or a concert they were able to control what they saw and where they were positioned.
"So if you want to get right up in the action at the rugby you can place yourself on the sideline or even on the rugby post. You will feel like your right there," Mr O'Donnell said.
Despite having to juggle school work and their job Mr O'Donnell said they the pair were well on track to finish school with good results.
"I have always been in to creating solutions for problems and it's a hobby for me so Verel is just a normal part of my lifestyle," Mr O'Donnell said.
Alongside Verel the pair co-founded Verel Media, an application that allows people to utilise the latest technologies in digital marketing via 360 degree filming.
"People can view 360 ads on an all 360 degree video platform which has never been done before. Customers will have the ability to view the product and or service in a more immersive way."
Mr O'Donnell said the application and headset will be released by August this year.
"We have more exciting things in the pipeline that we will be announcing at our launch."