VR Studios nDreams Completes New £2 Million Investment Round
nDreams Ltd., the UK’s largest independent developer/publisher solely focused on virtual reality (VR) entertainment software, today announced that it has received an investment of £2.0 million, the first of a two-stage round. Mercia Technologies PLC, the technology-focused investment business who has invested £4.1 million into nDreams previously, funded £1.0 million of the latest round. The rest of the investment comes from a group of angel investors.
The nDreams investment follows the recent launch of the award-winning The Assembly (view trailer) on Sony’s PlayStation®VR, coming after its number one debut on Oculus Rift and successful release on HTC Vive. nDreams also recently released Danger Goat (view trailer), its first title for the Daydream, Google’s new high-quality mobile VR platform that launched on 10 November 2016.
Patrick O’Luanaigh, nDreams’ CEO and Founder, said:
“We’re delighted that Mercia are continuing to support our growth by taking part in this investment, which is the first of a two-stage round. We’re also very pleased to welcome a number of private investors, all of whom have hugely successful business backgrounds and a wealth of knowledge and experience. I’m so proud of the team that we have assembled here at nDreams. This investment allows us to continue building on the momentum we have achieved, and to develop VR games and experiences of the very highest quality.”
Mike Hayes, Mercia’s Investment Director, Digital & Digital Entertainment:
“The continued progress of nDreams is an example of Mercia's success in investing and mentoring UK technology businesses. We congratulate the nDreams team and believe that the Company has an exceptionally exciting future ahead, operating at the forefront of the VR content development.”
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 also launched Gunner and Perfect Beach on the Samsung Gear VR and has several VR games and experiences in development.
nDreams was formed in 2006 by former Codemasters and Eidos Creative Director, Patrick O'Luanaigh (Tomb Raider: Legend, Hitman: Blood Money, Conflict: Desert Storm, Micro Machines V3) with a focus on virtual worlds. Since 2013, the company has exclusively dedicated its talents to developing remarkable virtual reality games and experiences. The studio has already worked on multiple successful VR titles – including SkyDIEving, Gunner, Perfect Beach, Danger Goat and the award winning The Assembly – and continues to develop multiple unannounced projects.
About Mercia Technologies PLC
Mercia is a national investment group focused on the creation, funding and scaling of innovative businesses with high growth potential from the UK regions. Mercia benefits from 18 university partnerships and six offices across the Midlands, the North of England and Scotland providing it with access to high quality, regional deal flow. Mercia Technologies PLC is quoted on AIM with the epic “MERC”.
Mercia's ‘Complete Capital Solution' initially nurtures businesses via its third party funds (with more than £228.0million under management) and then over time Mercia can provide further funding to its ‘Emerging Stars' by deploying direct investment follow-on capital from its own balance sheet.
Since its IPO in December 2014, the Company has invested over £30.0million directly across its portfolio of Emerging Stars.