ATMOS VR LTD SECURES £1M TO EXPAND
We can finally share that ATMOSV VR LTD has secured a £1m investment to expand.
Atmos VR has received the boost from Insight Media Fund in a deal negotiated by Samahoma Media Advisors.
The move is the fund's first investment in the location based entertainment (LBE) space.
The business has said the new multiplayer 'free roaming' interactive game has been developed with post-Covid audiences in mind and will offer strictly player number-controlled, socially distanced entertainment across the one-hour shows.
Atmos VR founder Kevin Blair said: "Atmos VR’s aim is to bring creative content to life using the latest immersive technology, constantly evolving VR and beyond and pushing the experiential boundaries of immersive experiences."
The first of eight planned venues will open in the Digbeth area of Birmingham in spring 2021 after Samahoma Media Advisors brought public entertainment specialists Britton McGrath Associates on-board to find locations.
Contracts have been finalised for a 10,000 sq ft warehouse at the Custard Factory.
Atmos VR will then look to expand across the country with locations in Tyne & Wear, Yorkshire, Merseyside, Glasgow, Cardiff and the South East being considered.
Samahoma Media Advisors chief executive Bob Clarke added: "As part of the Fund’s focus on media investments for a post-Covid world, bringing back live events is very much on its agenda and free-roaming VR provides a genuine antidote to the reasonable lingering fears people may have of being part of an uncontrolled large audience crowd.
"Atmos VR has developed a cutting-edge proposition with plenty of hooks for repeat visits - with the Fund’s support we believe it can be scaled for a UK-wide rollout and international franchise opportunities."