Roto VR’s immersive & interactive Virtual Reality Chair significantly enhances the VR gaming experience for the mass market
SDK now available to enable games developers to create titles optimised for Roto VR chair
01 APRIL, 2020 - LONDON – The designer of the world’s first interactive 360 degree chair, Roto VR, has today raised £1.5 million. Consumer Venture Capital Trust, Pembroke VCT is the lead investor. The TVB Growth Fund, managed by The FSE Group, also invested in the round. SP Angel Corporate Finance LLP acted as financial advisor to Roto VR on the fund raising.
Founded in 2015 by video games industry veterans Elliott Myers and Gavin Waxkirsh, Roto VR (www.rotovr.com) is a highly advanced interactive chair that addresses the physical problems of consuming VR, such as motion sickness and tangling cables, whilst also massively enhancing the immersive experience with haptic feedback (vibration effects).
The Roto VR chair is also motorised and can auto-rotate to wherever the user is looking, allowing for effortless 360-degree viewing and exploration, thus users can experience the full panorama in comfort and for longer periods of time. The Roto VR chair’s inbuilt desktop supports input devices such as a keyboard and mouse, which opens the door to productive 360-degree desktop computing.
“Most people sit down to watch movies, work, play games and browse the internet and we see no reason why the exciting new medium of VR should be any different,” said co-founder and CEO of Roto VR, Elliott Myers.
The innovative product is compatible with most VR Head Mounted Displays (HMDs) and is also compatible with all movies and games, as well as a host of additional accessories such as racing wheels and joysticks.
The Roto VR chair SDK is now available to all developers, enabling them to optimise their games for use with the Virtual Reality Chair. For example, with driving games the player experience can be augmented with extra depth of immersion when travelling through corners, with similar benefits for flight sims and other motion-heavy titles.
The company is due to launch the consumer and office version of the Roto VR chair imminently which provides a low-cost platform to ‘buy-in’ to the VR and Augmented Reality (AR) landscape. In addition, the team has identified a number of market opportunities across a select range of industries in the out-of-home sectors, such as cinemas and arcades, and has begun developing a range of products to accommodate them.
The global Augmented Reality and Virtual Reality market is expected to reach $94.4bn in value by 2023 according P&S Market Research.
Andrew Wolfson, CEO Pembroke Investment Managers LLP, explained why they invested: “In Elliott we have found an entrepreneur who has solved a problem for the VR market with a solution that addresses the physical issues encountered whilst consuming VR content, as well as significantly enhancing the experience. We see future customers coming from both the B2B and B2C markets, in fields such as experiential attractions, home, cinemas and shopping centres. The company has employed a high calibre of people, and we believe that the business is well placed to take advantage of this fast-growing market.”
Kiko Duffy, Senior Fund Manager at The FSE Group, who manage the Thames Valley Berkshire Growth Fund on behalf of the Thames Valley Berkshire Local Enterprise Partnership, commented: “We are delighted to be backing Elliott and his team. The company’s products are a key part of bringing VR into the home and workplace and are a great example of British innovation with global potential”.
To download Roto VR media assets, click here: https://www.dropbox.com/sh/uyw4ize78erx44s/AADklO2zP2oNhZUVnJU44EwDa?dl=0
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About ROTO VR™
Roto VR™ Ltd, a London-based company, was founded in March 2015 to improve the virtual reality and augmented reality experience. CEO Elliott Myers, who previously developed the award-winning Gametrak product (the first true 3D games controller), realised virtual reality and augmented reality have a long way to go in terms of fully immersing the user in the digital world. Roto, the dedicated interactive chair, is the first of many innovations to come from Roto VR Ltd.
https://www.rotovr.com
About Pembroke Investment Managers
Pembroke Investment Managers runs Pembroke VCT plc, which is a venture capital trust that provides investors with access to a private equity style investment strategy with significant tax benefits. We are committed to helping management teams realise their vision, utilising our extensive network and experience. Our focus is on five sectors: wellness; apparel and accessories; hospitality; media and technology; and education. From start-ups to more mature businesses we invest in founders and management teams we have confidence in.
In turn these entrepreneurs often seek the financial advice and operational and strategic expertise that our team can provide. We only invest in companies where we can add value over and above simply providing capital, and where we are confident our resources and experience can be most instrumental in their growth. We are hands-on investors, providing a supportive framework and access to our Board, Management Team and Advisers.
www.pembrokevct.com
About The FSE Group
The FSE Group manage the TVB Growth Fund which is part of the Thames Valley Berkshire Funding Escalator, an initiative funded by Thames Valley Berkshire LEP to support job creation and economic prosperity in the region. The Escalator provides companies with loans and equity funding between £50,000 and £300,000 to deliver high-growth and employment opportunities.
www.thefsegroup.com/thames-valley-berkshire-funding-escalator