The company plans to use the money to improve their VR products.
A UK-based VR firm Otherworld has raised £2.9 million, about $4 million, in a funding round led by Edge Investments. A leisure specialist investor Imbiba, and games industry veterans Chris Lee and Rupert Loman have also taken part in the funding campaign.
Otherworld plans 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.
“We’ve seen overwhelming demand, despite the pandemic. 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, ” comments Chris Adams, the CEO of Otherworld.