Roto VR secures £2.4m funding for cutting-edge gaming chair
Deal News | Dec 04, 2024 | Business Cloud
In a significant development for VR gaming, Roto VR, the creator of the world's first interactive VR chair, has secured £2.4 million in funding. This financing is part of Roto VR's second funding round which sees major contributions including £500,000 from Pembroke VCT, alongside numerous UK and US angel investors. The funds are earmarked for supporting Roto's expansion as its revolutionary VR experience chair, the Roto VR Explorer, begins its global rollout. Designed to enhance immersion and tackle VR-related motion sickness, the chair's unique features include a 360-degree rotation capability and advanced eye-tracking technology that aligns movement with the user's gaze. The product is integrated into the Made for Meta program, aligning with games and apps from the Meta Horizon store. Retail partnerships with GameStop, Argos, and Selfridges have been established to extend its market reach, with GameStop offering in-store demonstrations. This development is seen as a pivotal step in redefining gaming experiences, supported by the largest VR headset provider, Meta.
Sectors
- Virtual Reality Technology
- Gaming and Interactive Entertainment
- Retail
Geography
- United Kingdom – Roto VR is based in the UK, and the funding round involves UK investors and retail agreements.
- United States – The involvement of US angel investors and partnerships with international retailers such as GameStop demonstrates a significant US market presence.
Industry
- Virtual Reality Technology – Roto VR operates within the Virtual Reality sector, with its product focusing on enhancing VR gaming experiences.
- Gaming and Interactive Entertainment – The company's VR chair innovation is poised to significantly impact the gaming industry by providing an unprecedented immersive experience.
- Retail – The partnerships with retailers like GameStop, Argos, and Selfridges highlight the role of the retail industry in distributing and popularizing Roto VR's products.
Financials
- £2.4 million – The total funding raised by Roto VR in the latest round.
- £500,000 – The portion of the latest funding round contributed by Pembroke VCT.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Roto VR | Target company | Company | Developer of the world’s first interactive VR chair, focusing on enhancing VR gaming experiences. |
| Pembroke VCT | Investor | Company | A venture capital trust that has invested £500,000 in Roto VR as part of its second funding round. |
| Elliott Myers | Founder | Person | Founder of Roto VR leading the development and market rollout of the Roto VR Explorer chair. |
| Meta | Industry Partner | Company | Largest VR headset provider and partner of Roto VR in the Made for Meta program. |
| GameStop | Retail Partner | Company | Retailer partnering to provide in-store demonstrations of the Roto VR Explorer chair. |
| Argos | Retail Partner | Company | Retailer involved in selling the Roto VR Explorer chair. |
| Selfridges | Retail Partner | Company | Retailer involved in selling the Roto VR Explorer chair. |