Fairgame, an ‘immersive fairground’, is to launch its first site this autumn with £5 million investment.
Due to open in London’s Canary Wharf in late September, Fairgame – four years in development – is an adults-only site combining food and drink alongside nostalgic fairground games with a competitive edge.
The first site is backed by a £2.5m investment from BGF with a further £2.5m from a consortium of private investors. The funding will drive the rollout of additional sites in the UK and abroad.
Based on classic fairground games, the experiences are hooked up to RFID wristband tech and linked to a custom app to track gamers’ scores, with prizes on offer.
The business has been launched by experienced entrepreneurs Richard Hilton, founder of Gymbox; Paul Campbell, founder and owner of Hill Capital Partners LLP – who currently sits on the boards of Hawksmoor, Blacklock, the Alchemist and Yard Sale Pizza – and renowned music industry lawyer Andrew Myers.
“We believe we’ve created the most exciting concept in the competitive socialising space,” said CEO Hilton. “Fairground games have been enjoyed by generations for decades, but nobody has modernised the games or the experience.
“We’ve reinvented the fairground for the 21st Century, creating a network of games, adding RFID wristband tech and introducing a bespoke app to log gamers’ scores and track leaderboards in real time.
“The founders have worked with BGF since 2014, so they were our preferred partner. Thankfully, they immediately shared our vision of Fairgame as a fast-growing, global business and we are thrilled to have them on board.”
Chris Jones, investor at BGF, said: “We are delighted to be backing such a vibrant and innovative company. With a large addressable market and strong potential for growth, we look forward to opening the doors of Fairgame to the wider public.”