The designer of the world’s first interactive 360 degree chair, Roto VR, has raised £1.5 million.
Consumer venture capital trust, Pembroke VCT is the lead investor with the TVB Growth Fund, managed by The FSE Group, also investing in the round.
Founded in 2015, by video games industry veterans, Elliott Myers and Gavin Waxkirsh, the Roto VR chair solves the current problems associated with using VR.
The Roto VR chair is a highly advanced interactive chair that addresses the physical problems of consuming VR whilst seated, such as motion sickness and tangling cables, whilst also massively enhancing the immersive experience with haptic feedback (vibration effects).
Roto 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.
“Most people sit down to watch movies, work, play games and browse the internet whilst seated and we see no reason why the exciting new medium of VR will be any different,” says co-founder and CEO of Roto VR, Elliott Myers.
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The company is due to launch the consumer and office version of Roto imminently which provides a low-cost platform to ‘buy-in’ to the VR and Augmented Reality (AR) landscape.
Andrew Wolfson, CEO Pembroke Investment Managers LLP, said: “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”.