XR Games is an independent video game studio that’s based in Leeds, UK, and focuses on developing virtual reality (VR) games. The studio’s most outstanding work to this date is Zombieland VR: Headshot Fever, a VR adaptation of a zombie-survival film series.
The UK studio announced that they had raised $7 million in a funding round led by Act Media Ventures, Praetura Ventures, and Maven; they’ll be using the investment to expand their footprint in the extended reality and the video game industry. Their main goal at the moment is to grow their team, invest in new IPs, and come up with new games. They also plan to further their research in AR and VR.
The funding round was led by existing investors, meaning the companies trust XR Games to further evolve in the market and bring forth new and existing ideas. Just back in March 2022, XR Games acquired another VR studio named Fierce Kaiju to grow their video games portfolio and improve their team.
Bobby Thandi, XR Games Founder and CEO, said:
“We are extremely proud of the fantastic work and success the team at XR Games continues to achieve.
“This latest investment will enable XR Games to continue to bring new innovations to the AR/VR sector over the next few years. Our new Leeds studio will allow us to continue to grow our team, and the number of projects we’re working on. And with the hundreds of applications we are receiving for each job vacancy, it’s clear there’s a growing appetite for this space. We’ll continue to push XR Games to the forefront of the new virtual reality revolution we are seeing in the creative industries.”
The latest video game industry reports suggest there’s a growing interest in the metaverse and most users see VR (and AR) as a gateway to the ultimate meta experience. Last week has seen mobile games giant NetEase invest in a Polish VR studio named Something Random and more investments in the XR area are expected in the near future.
The video game industry giant Valve has been involved in the VR industry and in fact, they’ve been one of the biggest investors. The company recently filed a patent application for an untethered VR headset.
Meta (Facebook) also invests in VR in a unique and massive way, and despite its VR division losing $3.3 billion in Q4, they’re still making big investments in this area.
