Published: Aug 18, 2021
Focus: NPIF Maven Equity Finance
NPIF Maven Equity Finance has invested in XR Games, a game development studio in Leeds specialising in immersive AR and VR content. Existing investor ACT Capital Partners also followed on from their previous investment. The funding will allow the business to invest in product development and create 20 new roles in the Leeds based studio.
XR Games designs and develops Virtual Reality (VR) and Augmented Reality (AR) games for licensed IP holders and also operates as a ‘work-for-hire’ studio. The business has worked on a number of critically acclaimed games including the Angry Birds VR game that was launched alongside Sony Pictures’ Angry Birds Movie 2. The business recently launched its newest creation ‘Zombieland VR’ which was licenced by Sony Pictures, a key partner to XR Games. XR Games supports an impressive range of partners and customers including Facebook, Microsoft, Sony Pictures, Sony PlayStation, Unity, and others yet to be announced.
The video games industry is four times larger than the movie industry and three times larger than the music industry and the global XR (Virtual Reality and Augmented Reality) market is forecast to reach $286b by 2025.
Prior to founding XR Games, Bobby Thandi, CEO, helped raise investment for startups, and oversaw development of digital entertainment apps, games and VR with his team of 50 staff. Previous clients included LEGO, Disney and Mattel. Bobby’s team includes non-executive director Jason McGann, a skilled creative and technician with more than 30 years’ experience of successfully leading game development studios. He has worked on notable titles in the Grand Theft Auto and Midnight Club series.