Virtual reality game developer and publisher, nDreams, has raised $35 million in funding to expand its publishing operation and create more intuitive titles. The VR studio also plans to use the capital for its nDreams Academy.
The investment comes from the Stockholm-based Aonic Group, which will also support nDreams with specialist technology and infrastructure to help them foster their independent identity and creative freedom.
nDreams has been a well-known name in the industry for years with several exciting titles, such as Fracked and Far Cry: Dive Into Insanity. However, its most popular game to date is probably Phantom: Covert Ops, the stealth-action VR game that puts the player into a kayak to take on the bad guys. The VR studio also has various projects under development, including games for the PlayStation VR2.
Recently, nDreams had segregated its development capabilities into two separate studios – nDreams Studio Orbital and nDreams Studio Elevation. The former will focus on live service games, while the latter will cater to the development of AAA games and new IPs.
“This investment is a pivotal moment for nDreams, and I’m delighted to have the support of Aonic, who share the same ambitious vision for the company that we do,” said Patrick O’Luanaigh, co-founder and CEO of nDreams.
Virtual reality is on an upward trajectory to becoming a mass-market technology with applications across various industries. Gaming is one of the front-running sectors that has led to numerous innovations in the domain. Therefore, studios like nDreams have an immense opportunity to take advantage of this rapid adoption of immersive technologies.
The sector has also emerged as a sought-after domain for VCs and other investors. Virtual reality, augmented reality, and other metaverse-related technologies are positioned to deliver enormous returns and are thereby attracting capital all across the globe.
“The nDreams team continue to impress with how far they are pushing VR,” said Aonic’s Paul Schempp. “Seeing their plans and visions for the future blew us away, and we are excited to join them on their incredible journey.”
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