Immersive tech firm Retinize has raised £2 million funding.
The creative technology company based in Belfast, Northern Ireland, is developing a software product called Animotive that is harnessing the latest VR technologies to transform the 3D animation production process.
The seed round was led by Sure Valley Ventures, a VC firm that invests in high-growth software companies. Its £1m contribution is the first investment from its recently announced £95m UK Software Fund, which included a cornerstone £50m investment from the British Business Bank.
They were joined by investors from the UK, USA and Ireland including TechStart Ventures, VGC Partners and Clarendon/Co-fund NI, plus Bertram van Munster and Elise Doganieri – the multi Emmy award-winning producers behind the CBS hit show ‘the Amazing Race’ – and Ben Morrow, senior product manager at Adobe Aero, the tech giant’s AR creation tool.
An angel investor association of founders based in the Netherlands also contributed. The round will drive the global rollout of Animotive.
“We are thrilled to have Sure Valley on board as our lead investor – they have a deep knowledge of the creative tech sector and what impressed us most was the time they took to really understand and challenge our long-term goals and objectives,” said CEO Phil Morrow.
“This investment will supercharge our growth trajectory and will allow us to take Animotive to the international market.”
Sure Valley Ventures principal Isabelle O’Keeffe said: “We are delighted to support Retinize hot on the heels of launching our new software fund, as this innovative company enters an exciting new phase.
“We recognise that the immersive software sector is poised for exponential growth, and the plans that Retinize has for Animotive will position the company at the forefront of this expansion.”