XR Games secures £5.9m Series A investment from act media ventures, Praetura Ventures and Maven to fund studio expansion.
The funding round was led by existing investors act media ventures, Praetura Ventures and Maven to support studio expansion and team growth.
XR Games is an independent virtual reality developer based in Leeds that creates immersive titles in partnership with major entertainment brands. The studio has expanded rapidly following the commercial success of its flagship virtual reality releases.
Leeds-based virtual reality games developer XR Games has secured £5.9m in a Series A investment round. The funding was led by existing backers act media ventures, Praetura Ventures and Maven. The capital will enable the studio to relocate to a larger central Leeds headquarters, expand its headcount, and invest in intellectual property and new games. This follows a period of rapid growth for the company, which includes the acquisition of Fierce Kaiju and a tenfold increase in annual revenues.
From the founder
"We are extremely proud of the fantastic work and success the team at XR Games continues to achieve."
Bobby Thandi
Founder and CEO at XR Games
Investor perspective
"At Praetura Ventures, we pride ourselves on backing exceptional founders by providing our ‘more than money’ support to help them grow the best business they can. XR Games is a stellar example of a northern business turning heads on a global stage. Since our first investment in 2019, it’s so rewarding to see the team’s continuous expansion in terms of both staff and development on their projects."
Mark Lyons
Director of investments, Praetura Ventures
Use of funds
- 01Grow the team
- 02Continue product development
- 03Fund research and development
- 04Build out infrastructure
