VR specialist nDreams completes $2.75 million investment round
Posted By : Mukesh Dube At 20-01-2015 17:44:27
Tags : VR specialist nDreams
Farnborough, Hampshire, UK – nDreams, the fast-growing UK virtual reality (VR) developer and publisher, today announced that it has received the second tranche of a $2.75 million (£1.75m) investment round from Mercia Technologies PLC, the technology-focused investment businesses. These funds will support continued expansion, provide working capital and allow the company to explore publishing and acquisition deals for other VR titles.
nDreams was one of the first game studios in the world to focus on VR software, and has been working on virtual reality since 2013. The company has several VR games and experiences in development including two launch window titles for the Samsung Gear VR Innovator Edition (Gunner and Perfect Beach).
Gunner is an intense space combat experience with accessible controller-free gameplay and is co-published by Oculus. In contrast to Gunner, Perfect Beach is a unique relaxation experience that allows users to unwind on a glorious tropical beach. nDreams also recently announced The Assembly for Project Morpheus on the PlayStation 4 and Oculus Rift. The Assembly is a dramatic two–character VR adventure where players need to make tough moral choices and unravel the mysteries within a top-secret underground bunker.
nDreams is a pioneer in developing content for unique platforms, and was one of the first studios to create content for PlayStation Home, selling 1.8 million virtual items with more than 18 million visits to their free-to-play Aurora space. nDreams currently has five VR projects in development, and has been carrying out R&D in new, unexplored areas of virtual reality. The company recently announced a memorandum of understanding with UK VR entertainment firm, Virtual View Productions, to explore the crossover between filmed and game content in VR.
Patrick O’Luanaigh, Chief Executive of nDreams, said: “We’re delighted to be strengthening our relationship with the Mercia team, and their support allows us to continue grow the business more quickly and to finalise our launch titles ready for all major VR headsets. We plan to expand the company significantly and will be actively exploring both publishing and acquisition opportunities in 2015.”
Mike Hayes, Head of Digital of Mercia Technologies PLC and non-executive Director of nDreams said: “The additional funds will enable nDreams to exploit the innovative software for VR devices which it has developed over 12 months – it is now well positioned for growth in this exciting and very dynamic market.”
nDreams will be holding meetings at GDC and E3 this year, where the company aims to reveal more about their titles and plans for 2015.
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