Virtual reality (VR) technology company Glo Inc has concluded a round of funding to secure $3 million (USD) in investment from companies and venture capitalists such as Alibaba Entrepreneurs Fun, CRCM Ventures, Presence Capital and Mindworks Ventures as well as securing a new partnership with IMAX corporation.
The new injection of funds will be used by the company to further develop its library of available content, as well as expand its reach into new territories by deploying its VR system, Glostation in new locations by expanding its licensing and franchising, such as the recently completed deal with IMAX.
IMAX have previously offered Glo Inc’s ‘hyper reality escape room’ at once of its facilities, and soon Glo Inc’s VR experience Deadwood Mansion will be offered at some IMAX VR centres. The experience puts a group of players inside a mansion where a doctor is engaged in dangerous and illegal experiments, resulting in twisted zombie-like creatures.
“GloStation is a highly interactive, social and thrilling virtual reality experience – making it a perfect fit for IMAX’s location-based VR centres,” said Rob Lister, Chief Business Development Officer, IMAX Corp. “Customer feedback on the Deadwood Mansion VR experience at our centre in Los Angeles has been fantastic, and we look forward to working with Glo Inc. to bring GloStation to other IMAX VR Centres around the world.”
“We opened our showroom in Hong Kong late June, and for the next 100 days, we were 100% sold out each single day. Weekend tickets are now booking months in advance into 2018. Now, with this new investment, we will be able to scale our proprietary free-roaming VR system GloStation to cities globally. We’re delighted to be working with IMAX to introduce our experience to their world-class VR centres.” said Steve Zhao, CEO of Glo Inc.
“GloStation provides a unique immersive VR experience that combines the latest VR technologies with highly social elements. Steve is a successful serial entrepreneur with roots in Hong Kong, and we believe Glo will be a leader in the next generation of Hong Kong startups.” commented Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund.
Further news on new partnerships in the world of VR and immersive content will be here on VRFocus.