AIM quoted Mercia Technology Plc (LON:MERC) has committed £1mln to its nDreams, its part-owned virtual reality gaming company.
It represents half of a £2mln funding which allows the game developer to build further momentum following the recent release of its award winning title, The Assembly, on Sony’s new Playstation VR platform.
nDreams previously debuted on The Assembly on the Oculus Rift and HTC Vive platforms earlier this year before it launched on Playstation VR in October. The company also published Danger Goat, the first game for Google’s new mobile VR platform called Daydream.
Mercia has now invested £5.1mln into nDreams, and it owns 41% of the game developer’s shares.
“We are delighted to continue our support of nDreams as part of this new funding round. nDreams has made considerable progress this year, as reflected by the recent £3.0million uplift in the value of our holding,” said Mike Hayes, Mercia investment director.
“This syndicated round is further testament to nDreams' growing status as a leading VR content developer and publisher.”
Patrick O'Luanaigh, nDreams chief executive, meanwhile, added: “We are delighted that Mercia is continuing to support our growth by taking part in this syndicated investment, which is the first of a two-stage round.
“I am proud of the team of over 40 staff that we have assembled here at nDreams and this investment allows us to continue building on the momentum we have achieved, developing VR games and experiences of the very highest quality."