Innovative Oculus Rift virtual reality content provider gets £1m investment boost
Media investment firm Gate Ventures Plc has announced it is to invest £1m in Infinity House Productions, the film and production house which specialises in virtual reality (VR) content.
The deal will see the firm invest the cash in return for a 61% stake and is part of Gate Venture’s wider efforts to get a foothold in VR content creation.
Infinity already boasts partnerships with the likes of Sky TV and Channel 4, and its ‘Living the Life’ VR talk show series has aired on Sky Arts.
The production company is also a supplier of virtual reality content to Oculus Rift, the technology company which was acquired by Facebook for $2bn in 2014, and is currently in discussion with media giants including Microsoft, Sony, Apple and Samsung.
It is predicted to be a breakout year for virtual reality, with the release of flagship headsets such as Oculus Rift, the VR industry expected to be worth upwards of $4bn by 2018.
Dr Johnny Hon, Chairman of Gate Ventures PLC, said: “The investment in Infinity has great synergy with Gate’s other investee companies, and will advance the Company’s position as an innovative leader in the entertainment industry.
“The Board will work closely with Infinity House Productions to explore further expansion opportunities in order to effectively promote and capitalise on the increasing interest in virtual reality content.”