UK-based immersive entertainment company, Immotion, has raised additional funding to accelerate its virtual reality (VR) growth plans from Sure Ventures Plc.
London-listed Sure Ventures was created to give investors access to early stage technology companies in fast-growing markets such as VR.
This latest funding augments the £1.3m secured by founders Martin Higginson and David Marks from a range of strategic investors in December 2017.
According to Immotion, the extra £500,000 will be used to hasten the rollout of its VR Cinema Pods, as well as the development of additional immersive experiences.
The Immotion VR Cinema Pods are being rolled out under the company’s retail brand, VR Star, as well as through a range of concession partners. VR Star currently operates in Bristol. There are plans to open further locations in Swindon, Cardiff, Manchester, Middlesbrough, and Wakefield ‘in the coming months’.
VR Cinema Pods deliver the full immersive thrill of VR
The pods have already been used by concession partner, Genting Resorts World. Immotion’s content was also used by Yorkshire Museum’s Jurassic World exhibition, which was officially opened last month by Sir David Attenborough. The renowned naturalist and broadcaster described the technology as ‘tremendous’.
“We’re delighted to secure this funding from Sure Ventures, who share our excitement in the enormous potential of the out-of-home VR experiences market,” commented Higginson.
“We believe our out-of-home experiences will allow people of all ages to experience the full immersive thrill of VR, including movement, in a safe and fun way.”
As the desire for out-of-home VR experiences continues apace, Immotion is currently working with a number of additional concession partners across Europe and US.
“We have seen what is needed to deliver a great experience,” adds Higginson. “Our VR Cinema Pods engage all the senses by combining sight, sound and motion, along with premium content from our own award-winning studios, allowing us to help users genuinely escape reality.”