Otherworld, a London, UK – based maker and provider of an out-of-home virtual reality experience, raised £2.9M ($4.1M) in funding.
The round was led by Edge Investments, which committed $1.7m, with participation from specialist leisure investor Imbiba and games industry veterans Chris Lee and Rupert Loman.
The company intends to use the funds to enrich its virtual reality experiences, which already integrate 360 degree heat, wind and rumble effects, and to expand its world of VR content across the UK and internationally.
Led by Chris Adams, CEO, and Ed Wardle, Chief Creative Officer, Otherworld is a virtual island paradise in the cloud, home to VR’s best experiences across entertainment, arts, education and wellness, reached through multi-sensory ‘immersion pods’ in its growing network of city centre venues. Since opening its first site in Shoreditch, East London in 2019, over 50,000 people have experienced Otherworld, including Adele, Skepta, Jonathan Ross, KSI and Fnatic.
The company’s team has signed deals to open two prime locations in London Victoria and Birmingham this summer, with plans to expand to a further three locations in Manchester, Leeds and Glasgow over the next 12 months. Internationally, Otherworld is recruiting franchise partners in Germany and the United States.
FinSMEs
16/06/2021