Roto VR, the innovator behind the motorized interactive ‘Roto VR Explorer’ virtual reality (VR) chair, has officially revealed that it has obtained GBP £2.4 million in funding.
As part of a successful second round of funding for Roto VR, Pembroke VCT invested GBP £500,000, along with contributions from various new and existing angel investors from the UK and US. Following the global launch of the Roto VR Explorer chair last month, the company indicated that the new capital will fuel its next stage of expansion as it brings its VR experience chair to consumers.
According to Roto VR, the funds will be utilized to “tap into market demand for upgraded VR gaming” and to meet the needs for the launch of the VR Explorer by increasing operational capabilities and expanding the company’s market presence.
Roto VR’s gaming chair aims to tackle issues like motion sickness in VR and provides greater immersion through its 360-degree interactive configuration. The device is included in the “Made for Meta” initiative and is fully compatible with over 400+ games and applications from the Meta Horizon store, per Roto VR.
“My team and I are excited to introduce the Roto VR Explorer alongside industry-leading partners like Meta after a significant period of product refinement and market research,” expressed Elliott Myers, Founder of Roto VR. “I am particularly thankful to all our investors who persistently back our initiatives and I look forward to the next phase of our journey.”
Leveraging the company’s unique eye-tracking technology, the Explorer chair synchronizes physical movement with a user’s gaze, delivering an upgraded immersive VR experience. It is designed to overcome challenges linked to viewing and interacting with 360-degree content while seated in VR, also helping to mitigate certain safety concerns typically encountered with standing VR.
Since 2019, Roto VR has focused on securing agreements with leading players in the VR sector. Besides collaborating with Meta in the Made for Meta program, the company has also established retail partnerships with GameStop, Argos, and Selfridges, with GameStop poised to offer in-store demonstrations of the VR Explorer chair in key locations.
Following Pembroke’s recent investment, Roto VR has upgraded the Explorer chair with a head-tracking feature for more intuitive ‘look and turn’ viewing, as well as a ‘Rumble’ attachment to provide haptic feedback. The company announced that mass production of the chair has now commenced in China, which is expected to generate improved cost efficiencies for worldwide distribution.
Andrew Wolfson, CEO of Pembroke Investment Managers, remarked: “Elliott and his team have developed a solution that not only overcomes typical obstacles in VR engagement but also significantly elevates the overall experience. The Roto VR Explorer symbolizes British innovation with a global influence. With prestigious contracts and industry collaborations, Roto VR is poised for expansion as it continues to redefine the VR landscape.”
Roto VR indicated that lead investor Pembroke will maintain its role as a strategic ally, offering advice on crucial hires, providing guidance, and facilitating access to important networks. Pembroke initially invested in Roto VR in December 2019 and has contributed a total of GBP £2.2 million to the company thus far.
For additional details about Roto VR and its VR Explorer chair, please check out the company’s website.
