Quest-compatible VR chair secures £2.4 million of funding.
December 4, 2024
[This unedited press release is made available courtesy of Game Developer and its partnership with notable game PR-related resource Games Press]
Roto VR :
Returning investors reinforce confidence in Roto VR’s market potential, with strategic retail partnerships secured
Roto VR Explorer joins Meta’s “Made for Meta” program, marking it as the first VR chair to achieve this distinction
London 4th December, 2024: Roto VR, designer of the world’s first interactive VR chair has secured £2.4m in funding to capitalise on market appetite for enhanced VR gaming. The rollout of the Roto VR Explorer chair was launched globally on 8th November 2024. The Roto VR Explorer is part of the “Made for Meta” program and is fully compatible with over 400+ games and apps available from the Meta Horizon store. Meta is the largest VR headset provider and has sold 20m+ quest VR headsets since 2019.
As part of Roto’s second funding round, Pembroke VCT has contributed £500,000, alongside new and existing angel investors from both the UK and US. New investment will support Roto’s next phase of growth as it takes the much anticipated VR experience chair to market, in particular, funds will be used to fulfil demand for the launch of the VR Explorer by enhancing operational capacity and broadening its market reach.
Roto VR introduced a new category in gaming chairs, addressing challenges like motion sickness and limited immersion with a 360-degree interactive design. Through Roto VR’s proprietary eye-tracking technology, the Explorer chair aligns physical rotation with users’ eye gaze, providing an immersive, safe, and comfortable VR experience. In addressing the key issues of viewing and engaging with 360-degree content whilst seated, Roto also alleviates the safety issues often experienced with standing VR.
Pembroke will continue in its role as a strategic partner - advising on key hires, providing counsel as well as access to valuable networks. Pembroke first invested in Roto VR in December 2019 and has now invested a total £2.2m into the business.
Since 2019, Roto VR has secured new contracts with industry leaders and has partnered with Meta, under the ‘Made for Meta’ programme. Retail agreements with GameStop, Argos and Selfridges have also been signed and GameStop will be providing in-store demonstrations of the chair in key stores.
Since Pembroke’s latest investment, Roto VR has enhanced the Explorer chair with a head tracker for intuitive ‘look and turn’ viewing and the ‘Rumble’ attachment for haptic feedback. Myers and his team have also secured key commercial relationships with Meta and leading retailers in the UK and US such as GameStop and Amazon. The business has started mass production in China and lands on the market alongside positive press and influencer reviews.
Kickstarting production in China will provide greater cost efficiencies for global distribution. This next phase of growth is well timed, as Samsung and Google are also set to launch VR headsets in 2025.
Andrew Wolfson, CEO of Pembroke Investment Managers commented:
“Elliott and his team have engineered a solution that not only overcomes common barriers in VR engagement but also greatly enhances the overall experience. The Roto VR Explorer exemplifies British innovation with global impact. With high-profile contracts and industry partnerships, Roto VR is positioned for growth as it continues to disrupt the VR landscape.”
Elliott Myers, Founder of Roto VR comments:
"My team and I are thrilled to be launching the Roto VR Explorer with industry leading partners such as Meta after a considerable period of product development and market analysis. I’m especially grateful to all our investors who continue to support our efforts and I’m excited for the next chapter in our journey."
About Pembroke VCT
Established in 2013 and managed by Pembroke Investment Managers LLP, Pembroke VCT plc backs ambitious founders at growth-stage companies in the consumer, business services and technology sectors. Led by entrepreneurs for entrepreneurs, our investment team aims to find exceptional and innovative founders to grow the brands of tomorrow, allowing investors to share in the growth of some of Britain’s most exciting and entrepreneurial smaller companies. Pembroke is committed to helping our community of founders realise their vision through its strategic and operational expertise, helping at every stage of a company’s growth.
About Roto VR
Roto VR Ltd. is a London-based VR technology company focused on enhancing user engagement on VR/AR devices. Founded in 2015 by UK based tech entrepreneur Elliott Myers, the team at Roto VR is composed of executive leaders in the field of gaming, technology and engineering, with decades of experience in the field. Roto VR is committed to innovating in the field of VR, elevating the experience through advanced and affordable technology designed to bring virtual worlds to life like never before.
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