VR dev XR Games nets $2.1 million to expand team and create new franchises

UK-based augmented and virtual reality game studio XR Games has secured £1.5 million ($2.1 million) in funding to expand its development team.

The investment was led by Maven Equity Finance with backing from ACT Capital Partners, and will allow XR to create 20 new roles at its studio in Leeds. 

XR has worked on a number of VR titles including Angry Birds Under Pressure, Zombieland Headshot Fever, and All-Star Fruit Racing VR. 

As well as allowing XR to hire senior personnel including a creative director and chief operating officer, the funds will also allow the studio to begin developing its own original franchises. 

"It’s so exciting to see the team grow and develop, and with our vacancies receiving hundreds of applicants, it’s clear that there’s a huge appetite from others wanting to join our journey," said XR Games CEO and founder, Bobby Thandi, in a press release.

"This most recent round of investment enables our recent hires and existing team to kick start our own original IP initiatives, and helps to fund further R&D into augmented and virtual reality."