VRStudios Secures $2.2m in Funding to Expand Location-based VR Offering

A lot of consumers have shown a  keen interest in virtual reality technology. Most of them are not necessarily interested in buying a headset, though. Instead, location-based VR is quickly becoming a booming business. VRStudios wants to cash in on that situation, and the firm has raised $2.2m from investors to do so.

Another Funding Round for VRStudios

Despite the lackluster public image the virtual reality industry has to deal with, things are progressing rather nicely. A lot of ventures are taking off in quick succession, and new trends have begun to emerge. One of those trends goes by the name of location-based virtual reality. It brings VR technology to specific locations, including cinemas, arcades, theme parks, et cetera.

VRStudios is one of the many companies focusing its attention on this business model. Ever since the company was founded in 2014, the firm has gained a lot of traction in the process. Room-scale multiplayer VR across 15 countries are keeping a lot of consumers happy. Further expanding upon this infrastructure will require a lot of money.

As such, the company recently closed another round of funding. Investors put together a $2,2m package which will help the company expands its presence. How that will be done exactly, remains a bit unclear. Nor did the company share any details regarding the new investors.

The announcement comes at a critical time for VRStudios. Earlier this month, the firm put a Jurassic World VR Expedition game in 112 Dave and Buster’s locations. It is evident location-based virtual reality is a hot trend right now. Whether or not it can captivate audiences around the world and take VR into the mainstream, remains to be determined.

Header image courtesy of Shutterstock

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By Mark Arguinbaev

Mark is a 28 year old internet entrepreneur. He is a bitcoin enthusiast and a technology addict. He loves writing and educating readers about the newest tech trends.