£500k for immersive VR firm

A MANCHESTER-based immersive entertainment business has received a £500,000 investment.

Immotion helps to bring superior immersive virtual reality (VR) experiences to the ‘out of home’ market.

The Series B funding comes from London-listed Sure Ventures PLC, which was established to enable investors to gain access to early stage technology companies in exciting and expansive markets, including VR, and discover the industry leaders of the future.

The cash will be used to accelerate the roll-out of the company’s VR cinema pods, as well as the development of additional immersive experiences.

Immotion, which was founded by experienced technology and media entrepreneurs Martin Higginson and David Marks, also finalised a £1.3m investment from a range of strategic investors in December last year.

The Immotion VR cinema pods are being rolled out under the company’s retail brand; VR Star, as well as through a range of concession partners.

VR Star currently operates in Bristol, with plans to open in Swindon, Cardiff, Manchester, Middlesbrough and Wakefield in the coming months.

Martin Higginson, executive chairman of Immotion, said: “We’re delighted to secure this funding from Sure Ventures, who share our excitement in the enormous potential of the out-of-home VR experiences market.”