VR firm Igloo Vision, Shropshire tech firm, specialises in shared immersive, virtual spaces. Now, the company has announced that it has secured £2 million investment to support its global growth plans.
The funding round was led by a debt investment from Frontier Development Capital (FDC). This follows the £1 million of equity raised last year from Ingenious and others. Igloo Vision will use the funds to continue rolling out its latest immersive meeting room technology globally. Headquartered in Shropshire, Igloo Vision also has centres in Los Angeles, New York, Melbourne, Toronto and Rotterdam and has offices planned for Dubai and Houston.
Dennis Wright, CEO at Igloo Vision, said: “As an ambitious technology company, we have carved out a strong reputation and have already partnered with many of the world’s biggest brands, with many more projects on the way. In the wake of the Covid-19 pandemic, more and more organisations are investigating our technology to find out how it can help them work faster, make better decisions, and bring together teams from around the world.”
Graham Mold, head of growth capital at Frontier Development Capital, said: “Igloo Vision is leading the way in the development of shared immersive technology and software. FDC has supported Igloo throughout its growth journey, providing several rounds of funding and working with the company to realise its aims. Despite the disruption caused by Covid-19, Igloo Vision continues to innovate – boasting a strong order book and ambitious plans for 2021. This latest investment will support the firm as it continues to roll out its immersive workspaces and expands its presence in new sectors.”
Post pandemic immersive workspaces
In the post-pandemic world, companies are looking forward to new collaboration spaces, which enable on-site teams to review data and documents from many different sources and to engage with colleagues around the world. As remote working has become a trend since last year, Igloo’s immersive workspace technology has been installed by companies, including Nike, Deloitte, Microsoft, FedEx, Diageo, and more. In addition to workspaces, it has also been installed in over 40 universities around the world, often to help deliver virtual lectures to remotely located students.
Founded by Colin Yellowley in 2007, Igloo immersive spaces offer a similar experience as stepping inside a giant VR headset. So it’s great for entertainment and experiences, and also perfect for collaborative teamwork, training, and visualisation. Any digital content such as immersive VR or 360° can be shown. As entire groups of people can get inside, it’s always a shared experience.
