VirtuaCoin was founded in 2018 in Sydney, Australia by Raghulan Gowthaman. Raghulan and his team at Virtua Technologies worked on developing VirtuaCoin since then. Before writing the first line of code, the development team tested several different variations of architecture and designed several prototypes for over a year.

Virtua Technologies was founded in 2010 by Raghulan Gowthaman in Sydney, Australia. Since then, the company has developed over 400 mobile apps, games, IoT applications, enterprise software, blockchain-based apps, web applications, and engineering products. Over a dozen startup companies have been developed by Virtua Technologies. The company also specializes in GIS-based applications. Virtua Technologies has worked with major government and private organizations including NSW Health, NBN, Woodside, IGA supermarkets, Curtin University, and Extracts Bioscience.