VR Social Network vTime Closes $7.6 Million Series A Funding Round

VR Social Network vTime Closes $7.6 Million Series A Funding Round (PRNewsfoto/vTime Limited)

Here is a great example of a tech-based network using strong artwork to build interest in a future-is-now concept. The clever and upbeat illustration, with a dash of humor, helps viewers connect with the following news about investors who share similar enthusiasm for this project:

Virtual Reality Social Network Used in More Than 190 Countries

vTime, the UK-based virtual reality (VR) sociable network that allows users to meet, chat, broadcast and share with people around the world, has closed a $7.6 million (£5.4 million)* Series A funding round. Reports indicate that vTime is used in more than 190 countries.

Deepbridge Capital, using the Enterprise Investment Scheme, led this Series A funding round. The Liverpool-based institutional loan and equity provider, MSIF, also made an investment.

Nearly 1 Million Downloads Across Six Platforms

The VR social network has amassed almost a million downloads across six platforms since December 2015. Bootstrapped from launch by founder and CEO Martin Kenwright, the investment will accelerate global growth and product development. The funds will also fuel R&D for the brand’s augmented reality (AR) experience coming later in the year.

“vTime offers users the most immersive and intuitive way to engage with others in VR from wherever they are. The advent of consumer AR at scale is allowing us to use decades of expertise to develop another unique way to connect and engage with friends and family in alternate realities,” vTime CEO Martin Kenwright said.

vTime continues to grow through a recruitment drive to bolster the core development and management teams of more than 40 people in both its UK Liverpool headquarters and in the United States.

Your Thoughts About Virtual Reality and Augmented Reality

What are your reactions to the growing interest in virtual reality and augmented reality? Can you describe some of your experiences using these platforms? Please share this news, and post your comments now!

*exchange rate on April 9, 2018

 

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Andrea Karen Hammer, a Philadelphia-based freelance writer, is the founder, director and owner of Artsphoria Media Group. As CEO, she leads the operation and innovation at Artsphoria: Arts, Business & Technology Center, Artsphoria International Magazine (https://www.artsphoria.com) and Artsphoria: Food for the Soul (https://artsphoria.live).