Meta virtual reality partner Roto VR sees future with £2.4m funding boost
The designer of an interactive virtual reality chair for use with games sold by the owner of Facebook has snapped up nearly £2.5m from investors.
Sky News understands that Roto VR, which is seeking to capitalise on burgeoning appetite for enhanced VR gaming, will announce this week that it has secured the funding from investors including Pembroke VCT.
Roto VR is the company behind the Explorer chair, which launched globally last month and is part of the “Made for Meta” programme – underlining its status as a key partner of the US technology behemoth.
The Explorer is compatible with more than 400 games and apps available from the Meta Horizon store.
Its design has resolved commonly cited problems with other VR chairs, according to the company, including the prevalence of motion sickness for users.
Roto VR said its eye-tracking technology enabled the Explorer chair to align physical rotation with users’ eye gaze, providing a more comfortable experience.
The company has struck deals to sell the product through Argos, GameStop and Selfridges.
The funding round – Roto VR’s second – has also been backed by new and existing angel investors from the UK and US.
Elliott Myers, founder of Roto VR, said he was “thrilled to be launching the Roto VR Explorer with industry leading partners such as Meta after a considerable period of product development and market analysis”.
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Pembroke VCT, which is listed on the London stock market, initially backed Roto VR five years ago.
“Elliott and his team have engineered a solution that not only overcomes common barriers in VR engagement but also greatly enhances the overall experience,” said Andrew Wolfson, CEO of Pembroke Investment Managers.
“The Roto VR Explorer exemplifies British innovation with global impact.”