Manchester immersive VR firm eyes London float
A Manchester tech start-up which specialises in providing immersive ‘out-of-home’ VR experiences could soon float on the London Stock Exchange.
Immotion was set up by tech and media entrepreneurs Martin Higginson and David Marks, whose successes include Netplay TV and Monstermob.
The company recently raised an additional £500,000 in funding to speed up the roll-out of its virtual reality cinema pods across entertainment centres, theme parks and museums.
Immotion did not reveal its anticipated market capitalisation or how much capital it plans to raise. However, the firm has set 12 July as its anticipated date of admission.
The £500,000 investment announced in April came from Sure Ventures, a venture capital fund which invests in early-stage software companies in the FinTech, AR and IoT sectors.
Prior to that, Immotion raised a £1.3m investment and also acquired Studio Liddell and Los Angeles-based filmmakers C2K.