VR developer nDreams secures $3.5 million investment in second stage of funding round

Date Type Companies involved Size
July 13th, 2017 investment Mercia Technologies
VR developer nDreams secures $3.5 million investment in second stage of funding round

UK-based VR developer nDreams has completed the second stage of its most recent funding round and secured an additional £2.7 million ($3.5 million) to continue development on its games.

£2 million of the round comes as follow-on investment from Mercia Technologies, which previously invested £1 million in November 2016. The remaining £700,000 was raised from private investors.

The money will be used to continue development on its five games currently in production, as well as facilitate the company's push into VR arcades. It will also expand its staff in the coming months with a new CFO and COO.

Continued support

"Mercia's continued support, and the backing of private investors, bolsters our relentless ambition to remain at the forefront of VR," said Patrick O’Luanaigh, CEO and Founder of nDreams.

"The company has expanded rapidly over the past 12 months leading to outstanding opportunities, including our move into VR Arcades and our continued focus on creating innovative VR content for home headsets."

Mercia Technologies is one of nDreams' main investors. It has previously made multi-million dollar investments in the firm in both January 2015 and December 2015.

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