AR and VR specialist XR Games has secured £1.5 million ($2.08 million) in funding.
Maven Equity Finance led the round, with existing backer ACT Capital Partners also following on from their previous investment. The funds raised will go towards the expansion of product development and help to create 20 new roles at the studio in Leeds, UK.
XR Games has worked on numerous big-name IP projects, such as Angry Birds: Under Pressure and Zombieland: Headshot Fever. It has partnered with the likes of Facebook, Microsoft, Sony Pictures, Sony PlayStation, Unity, and more since been founded in 2017.
“Growth journey”
“XR Games has achieved a number of great milestones in a short space of time and we are delighted to support the business at such an exciting stage in its growth journey,” said Maven senior investment manager Gavin Bell.
“Immersive technology has huge potential in this industry and Bobby and the team’s experience, ambition and delivery in this niche has been instrumental in them developing such an impressive list of global clients and partners already. We look forward to working with the team and existing investors as they embark on a programme of rapid growth.”
XR Games CEO and founder Bobby Thandi added: “It’s so exciting to see the team grow and develop, and with our vacancies receiving hundreds of applicants, it’s clear that there’s a huge appetite from others wanting to join our journey.”
Keeping with AR, Pokémon GO creator Niantic recently acquired Scaniverse, a 3D mobile scanning app developer.
Meanwhile, Apple also removed educational AR app Rosie’s Reality from Apple Arcade – the first game to be taken down from the service.
