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."