Augmented reality studio XR Games has secured funding of £1.5 million ($1.9 million).
According to GamesIndustry.biz, the investment was led by Praetura Ventures. However, additional funding came from ACT Capital - the company is planning to expand its team with its newfound cash.
"Virtual reality gaming is a multibillion-dollar industry set to grow significantly within the next five years and as technology continues to advance at a rapid rate, XR Games is well placed to keep pace with this demand," said Praetura Ventures director Mark Lyons.
The Leeds-based studio is best known for its collaborations with Sony and Rovio on games including The Angry Birds Movie 2 VR: Under Pressure.
“We are incredibly excited about Praetura’s investment in XR Games. Not only do they share our vision for growth, they are committed to supporting our ambitions and can provide strategic support alongside an injection of capital,” said XR Games CEO and founder Bobby Thandi.
“This was a really important factor when choosing our next investment partner and their support represents a significant milestone for our business. Together we will be able to grow our team and continue to build partnerships with major movie studios to capture new opportunities moving forward.”