F1 Arcade, a Chicago, IL-based F1® experiential hospitality brand, raised $130M in growth funding.
Backers included Cheyne Capital, Liberty Media Corporation, Permira Credit and OakNorth.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO and Founder Adam Breeden, F1® Arcade is a F1® experiential hospitality brand featuring full-motion racing simulators, reaction games, huge viewing screens, food, and cocktails, with an electric atmosphere. An in-house tech team worked in collaboration with Formula 1® and Studio 397, a subsidiary of Motorsport Games, to create a new gaming experience leveraging Studio 397’s racing simulation platform rFactor 2.
F1 Arcade opened its first venue in London in 2022, followed by Birmingham and in April 2024 the brand launched its first US site in Boston Seaport. As part of a roll-out plan, F1 Arcade is set to open in Washington D.C in Fall 2024 and a flagship site in Las Vegas in 2025.
FinSMEs
12/07/2024