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VR firm Otherworld raises 2.9m to fuel UK expansion

Company plans to open five new locations in the next year

Virtual reality company Otherworld has raised £2.9 million in a funding round.

The round was led by Edge Investments, with participation from leisure specialist investor Imbiba, and games industry veterans Chris Lee and Rupert Loman.

Otherworld creates a spectrum of VR-based content and experiences, as well as showcasing games from other developers.

It also hopes to use the funds raised to develop its products, which includes multi-sensory technology for a more immersive experience in VR.

The company is also set to open two prime locations in London Victoria and Birmingham over the summer, with plans to open a further three spaces in Leeds, Manchester and Glasgow within the next year.

Otherworld also has a location in Shoreditch, London, which opened in 2019.

"We've seen overwhelming demand, despite the pandemic," said Chris Adams, CEO and co-founder of Otherworld. "People are seeking ever-greater levels of immersion, but through social experiences they can enjoy with friends and family. We can't wait to take the Otherworld experience to new markets around the world."

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