The investment round was led by Maven and backed by ACT Capital Partners to fund team expansion and product development.
"XR Games has achieved a number of great milestones in a short space of time and we are delighted to support the business at such an exciting stage in its growth journey. Immersive technology has huge potential in this industry and Bobby and the team's experience, ambition and delivery in this niche has been instrumental in them developing such an impressive list of global clients and partners already. We look forward to working with the team and existing investors as they embark on a programme of rapid growth."
The investment round was led by IQ Capital with backing from Cedars-Sinai Medical Center and a UK learning technology fund.
"We feel privileged to have both deep tech experts and world-leading educators on our cap table in this round, to help us achieve our ambition of becoming the world’s leading developer and distributor of deep learning and digital training solutions."
The capital will back domestic and international venue expansion alongside the launch of an upgraded virtual reality platform.
"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."
The financing round was led by Octopus Ventures with backing from both new and existing investors.
"Today, we’ve developed the world’s first Engineering-Grade AR solution helping construction teams identify errors in real-time, but really that’s just the start of our journey. The next phase is Assisted Reality, where our spatial computing technology will have the intelligence to automatically detect and report issues in the field. And ultimately, the goal is builders building from holograms. Our vision of developing world changing products aligns with Octopus Ventures’ mission of investing in companies that are powering the next industrial revolution. We look forward to building history."
Frontier Development Capital led a £2m debt investment to support the global rollout of immersive meeting rooms.
"As an ambitious technology company, we have carved out a strong reputation and have already partnered with many of the world’s biggest brands, with many more projects on the way. In the wake of the Covid-19 pandemic, more and more organisations are investigating our technology to find out how it can help them work faster, make better decisions, and bring together teams from around the world."
