Immersive spaces firm Igloo Vision has successfully raised £2 million in investments to expand its enterprise-grade virtual reality (VR) technologies and software solutions, UK media reported last week.
Frontier Development Capital led the investment round just a year after Ingenious and numerous others topped £1 million in fundraising for the company.
The new solutions allow users and clients to display digital content such as immersive VR and 360-degree content in a shared space.
The Craven Arms-based tech firm initially rented and sold immersive ‘igloos’ to clients, but later expanded to convert facilities into immersive meeting rooms, with content displaying across walls.
Global companies began seeking fresh ideas for collaborative worplaces amid the ongoing COVID-19 pandemic, where teams could share data and company documents as well as interact with global staff.
Igloo Vision has also worked with firms such as Nike, FedEx, Deloitte, PwC, Microsoft, Diageo, and others, as well as over 40 universities worldwide, for immersive collaboration and content curation.
Dennis Wright, Chief Executive at Igloo Vision, said:
“As an ambitious technology company, we have carved out a strong reputation and have already partnered with many of the world’s biggest brands, with many more projects on the way. In the wake of the Covid-19 pandemic, more and more organisations are investigating our technology to find out how it can help them work faster, make better decisions, and bring together teams from around the world”
He added the new round of investment would allow the firm to continue rolling out its latest meeting room products globally.
Mr Wright concluded: “We envision our immersive workspaces as the way for astute organisations to collaborate and our mission is to bring these spaces within the reach of any organisation, anywhere.”
Graham Mold, Head of Growth Capital at FDC, said:
“Despite the disruption caused by Covid-19, Igloo Vision continues to innovate – boasting a strong order book and ambitious plans for 2021. This latest investment will support the firm as it continues to roll out its immersive workspaces and expands its presence in new sectors”
He added FDC was “committed to supporting regional businesses” and looked forward to working with Igloo Vision as the business continued to expand globally.
The news comes just days after 3D VR photography firm VR Pixel launched in Burnley, Lancashire in early June to back key industries in the United Kingdom amid the pandemic.
The immersive firm’s interactive tours have recreated the Burnley Borough Council, James Hall and Co, SPAR, and other famous landmarks in the region via the company’s innovative digital world solutions.
VR Pixel’s work has allowed tourists and visitors to view artworks and historic facilities despite COVID-19, which has badly hit the tourism and travel sectors across the world.
