vTime, a virtual reality social networking platform based in Liverpool, has secured a significant $7.6 million in funding. This financial boost aims to accelerate the company’s expansion and product innovation.
vTime, the Liverpool-based VR social network, has garnered a substantial investment of $7.6 million in a Series A funding round. Led by Deepbridge Capital, incorporating the Enterprise Investment Scheme, this round also saw contributions from MSIF, a local loan and equity provider. This investment is poised to accelerate vTime’s global expansion, product development, and research into augmented reality experiences.
vTime’s platform offers users an immersive way to interact in virtual settings with friends and family. CEO Martin Kenwright highlights the potential of consumer augmented reality (AR) at scale. By leveraging extensive expertise, vTime aims to innovate new, engaging methods for social interactions across virtual and augmented realities. Deepbridge Capital shares this vision, seeing great potential in vTime’s technological advancements.
Deepbridge Capital expresses confidence in vTime’s innovative and disruptive potential. Their partner Ray Eugeni noted the alignment of vTime’s and Deepbridge’s visions. Both companies are committed to providing unparalleled social extended reality (XR) experiences and exploring expansive monetisation strategies for the vTime framework with emerging technologies. This strategic partnership aims to propel vTime to a leadership position in VR and AR markets.
To support its ambitious growth plans, vTime is actively bolstering its workforce. In both Liverpool and the US, the company is expanding its development and management teams, currently comprising over 40 employees. This recruitment drive is crucial for sustaining technological innovation and the continuous enhancement of user experience. Promoting a collaborative work environment, vTime ensures agility and creativity in responding to market demands.
vTime aims to redefine social interaction through virtual and augmented reality. By integrating cutting-edge technology, they are prepared to introduce novel features that enrich user engagement. The forthcoming augmented reality experiences promise to offer users a profound and seamless connection to alternate realities. As the consumer demand for AR escalates, vTime’s solutions are set to be at the forefront of this technological evolution.
vTime envisions a future where social interactions transcend physical boundaries. Through continuous innovation and adaptation, the company plans to weave more intricate and involved virtual social fabrics. This vision extends to monetising potential platforms, expanding the vTime ecosystem with the latest technological advances, thereby creating broader access and appeal.
In summary, vTime’s recent financial backing marks a pivotal milestone in its quest to enhance virtual social interaction. The strategic plan involving cutting-edge research, recruitment, and development positions vTime to set new standards in the VR and AR landscape. The investment facilitates bold steps towards a more connected future.
The $7.6 million investment into vTime catalyses its journey to revolutionise social interaction through VR and AR. With strategic growth and research, vTime is positioned to lead in innovative virtual engagement.
