Leeds VR specialist Cooperative Innovations has secured more than £500,000 in seed funding in a round which included angel investors.
The company is also making its proprietary animation technology – Ikabod – available to license.
Cooperative Innovations said the investment will enable it to grow its head count and launch a pilot licensing programme for Ikabod, the first of its tools and technologies that will be available.
It will also allow it to expand its commitment to ongoing research and development into immersive technologies, and continue development of its original MMORPG VR game, Raiders of Erda, and another as-yet-unannounced multiplayer VR/AR title.
The studio is now actively seeking selected licensing partners for Ikabod.
CEO and co-founder Simon Barratt said: “Securing this investment really allows us to scale-up the studio and continue to build on our core technologies and tools.
“We’re passionate about immersive experiences as the future of work, life and play, and we’re excited about the opportunity to grow the team, continue our R&D, and release some of our original IP too.”
CTO and co-founder Brian Marshall added:“Ikabod came about as we needed a full IK solution that was fast enough to use on every character, while embracing easy-of-use and artistic expression. Nothing available did everything we needed, so we made it ourselves.
“We can’t wait to get Ikabod into the hands of more developers and creatives. Being able to now launch this pilot licensing programme, we’re able to really push the system in-the-wild, and continue to improve it into the future.”