Immotion, the UK-based immersive entertainment business involved in bringing virtual reality experiences to the ‘out of home’ market, has received an additional £500,000 of investment.
The Series B funding comes from London-listed Sure Ventures, which was established to discover industry leaders of the future and enable investors to gain access to early stage technology companies in expansive markets including VR.
The cash injection will be used to accelerate the rollout of the Company’s VR Cinema pods, as well as the development of additional immersive experiences.
Immotion was founded by experienced technology and media entrepreneurs Martin Higginson and David Marks, also finalised a £1.3m investment from a range of strategic investors in December 2017.
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, with plans to open in Swindon, Cardiff, Manchester, Middlesbrough, and Wakefield in the coming months.
“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,” Said Martin Higginson, executive chairman of Immotion. “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.”
Immotion is currently working with a number of additional concession partners across Europe and US which it will announce shortly.