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Immersive Gamebox raises £17m in debt funding

Immersive Gamebox

Augmented reality (AR) gaming company Immersive Gamebox has secured $20m (£16.8m) in venture debt funding from US investment firm Harlan Capital.

The company’s game rooms use touchscreen walls, surround sound and motion-tracking hats to provide different immersive experiences.

David Spindler, CFO and co-founder of Immersive Gamebox, said: “The debt financing from Harlan Capital will enable us to open many more venues globally, accelerating our already-rapid growth, and bringing the IGB experience to millions of players.”

Headquartered in London, Immersive Gamebox will use the debt funding to increase its presence to 100 sites before 2023, including one in Shoreditch, London in December.

In October, the AR company bagged £80m in franchise deals.

Co-founder and co-CEO of Immersive Gamebox Will Dean teased new technology such as “handheld tech, AR integrations and voice recognition currently in testing”.

To date, the AR company has approximately $45m (£37.8m) of capital in its inventory from investors such as Project A, H&M, Jam Jar and Brookfield Asset Management.

Immersive Gamebox’s interactive game library has games based on the franchises Squid Game, Angry Birds and Shaun the Sheep.

AR company London Dynamics this week secured £1m in seed funding for its AR and 3D model software for ecommerce businesses.