UK-based educational games firm Kuato Studios has raised £4.5 million ($6 million) in funding.
Horizon Ventures led the investment. The money is going towards the launch of Panic Room, Kuato Studio's first virtual reality title.
"We are thrilled to continue our close relationship with Kuato Studios at this exciting time when they are developing the 'Actor/Director' platform for VR," said Horizon Ventures' Teddy Chatjaval.
"This is a testament to Kuato's longevity and adaptability to the ever-changing interactive entertainment landscape."
Kuato Games is best known for its work with educational games, as well as for its partnerships with huge brands such as Disney and Marvel.
Panic Room marks a big step forward in virtual reality as it is set to be the first cross-platform, socially interactive, VR game. Moreover, it will utilise Kuato's Actor/Director platform, which allows gamers to interact through a shared online space.
Currently, Panic Room runs on the Oculus Rift and is compatible with iOS, Android and PC. Mobile users can download the app from the App Store and Google Play.
"Virtual reality has progressed significantly over the last decade, but a primary issue stems from the fact it's a single-person experience. We are incredibly excited to be launching this game as part of our ambition to shift into the VR market," said Kuato Studios managing director Mark Horneff.
"In the current circumstances where interactions are at arm's length and done remotely, we wanted to offer gamers the chance to escape but stay connected with friends and family, and also open the platform up to third-party developers to use as well. 'Panic Room' is an internet-based experience which can be played over Zoom or with two individuals in close proximity – a concept we will apply to other developments to support family connectivity."
"Our aim is to create compelling and memorable virtual reality experiences where gamers of all ages can share moments with their friends online. Our model offers a simple, social and cost-effective solution. Our vision is to test out the technology with 'Panic Room' and then extend it to our library of games, which align with Kuato's education-driven ethos where children can learn and play, whilst parents, carers or teachers can oversee gameplay."