Dave Ranyard's Dream Reality Interactive secures investment from Phil Harrison

Virtual reality developers achieves first successful funding round since opening doors last year

Dream Reality Interactive has announced it has completed the first round of financial investment.

The company was founded in late 2016 by Dave Ranyard, who formerly led development for Sony's various PSVR launch titles, including PlayStation VR Worlds. It is currently working on multiple projects - most notably Hold The World, a virtual reality production for Sky starring Sir David Attenborough as a hologram.

These projects will now be funded in part by investments by former Xbox and PlayStation exec Phil Harrison, as well as Mother, a creative marketing firm. However, the amount of investment Dream Reality Interactive has received was not disclosed.

"I invested in dRi because the team is fantastic and the AR/VR sector is one of the most exciting frontiers in technology today," said Harrison.

Ranyard added: ""We are really excited by the space where AR, VR and AI meet and can see amazing opportunities for new levels of immersion and human interaction. Having backing from two successful and insightful investors enables us to accelerate our ambitions and is a huge validation of the talented team we have put together."

Ranyard left PlayStation back in February 2016 to pursue independent VR projects. He unveiled his new studio exactly one year later, and has since attended multiple conference talking about the true potential of virtual reality.

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