VR startup Immersive Gamebox secures £80m in expansion deals - UKTN (UK Technology News

London-based virtual world (VR) startup Immersive Gamebox (IGB) has secured $90m (£79.3m) worthy of franchise deals to enactment the company’s enlargement into caller regions.

Founded successful 2018, IGB develops VR amusement experiences utilizing projection mapping, question tracking, and situation dependable technology.

Its virtual world tech goes into what the institution calls ‘gameboxes’, carnal spaces placed successful concern with retailers wherever customers tin acquisition immersive VR games. These gameboxes tin supply spouse companies – often buying centres – with an inducement for lawsuit footfall arsenic retailers proceed to conflict against online shopping.

The London steadfast has contiguous announced it has signed the large franchise deals which volition spell towards the improvement of implicit 250 locations for immersive gaming experiences implicit the adjacent 3 years.

The institution – formerly known arsenic Electric Gamebox – has secured deals with retailers successful the UAE, Germany, and Ireland arsenic portion of its planetary maturation plans.

“We are delighted to motion franchise deals with specified beardown partners arsenic portion of the accelerated enlargement of Immersive Gamebox,” said Will Dean, laminitis and CEO of IGB.

“Our institution intent is to bring radical unneurotic done technology-enabled shared play, and our franchise partners are playing a cardinal relation successful taking Immersive Gamebox global.”

IGB has besides appointed a caller COO to assistance oversee the planetary enlargement of the company.

“I americium truly excited to beryllium joining IGB arsenic it gains important momentum successful growth,” said Lisa Paton, the recently appointed COO of IGB.

“With my acquisition of increasing brands internationally, I volition beryllium helping found IGB crossed assorted markets, arsenic good arsenic moving with franchise partners to guarantee they align with our halfway values and high-quality service.”

IGB has antecedently received funding from Project A Ventures, a Berlin-based VC firm.