Leeds-based VR tech studio levels up with £500k seed investment
Immersive tech studio Cooperative Innovations has closed a six-figure seed funding round to support the rollout of its proprietary animation technology.
The Leeds-based company will use the £500k investment to grow its team and launch a pilot licensing programme for Ikabod, a platform that enables virtual reality developers to accurately reflect players’ real-life physicalities in a VR avatar.
Cooperative Innovations said the tech, which has a range of animation uses, is capable of increasing immersion and engagement.
Through Ikabod, gamers are able to see their arm and body movements accurately mirrored in the virtual environment.
Cooperative Innovations is now actively seeking licensing partners.
The funding will also allow the company to invest in research and continue developing its original VR game, Raiders of Erda, alongside another unannounced multiplayer title.
Simon Barratt, co-founder and CEO of Cooperative Innovations, said: “Securing this investment really allows us to scale-up the studio and continue to build on our core technologies and tools.
“We’re passionate about immersive experiences as the future of work, life and play, and we’re excited about the opportunity to grow the team, continue our R&D, and release some of our original IP too.”
Participants in the funding round included angel investor Craig Fletcher, Trend Investment Group and Ascension Ventures.
The firm’s CTO and co-founder, Brian Marshall, commented: “Ikabod came about as we needed a full IK solution that was fast enough to use on every character, while embracing easy-of-use and artistic expression.
“Nothing available did everything we needed, so we made it ourselves. We can’t wait to get Ikabod into the hands of more developers and creatives.”
He continued: “Being able to now launch this pilot licensing programme, we’re able to really push the system in-the-wild, and continue to improve it into the future.”
Looking to promote your product or service? Bdaily Marketing can help you reach a regional business audience. Request our latest Media Pack →