Igloo Vision has secured a new £2 million ($2.8 million) investment to support its global growth plans. Igloo Vision’s technology and software enables any digital content (including immersive virtual reality or 360° content) to be displayed in a physically shared space. In the past, the firm has operated by renting and selling its dome-like immersive “igloos.” Going forward, the emphasis is on converting existing meeting rooms into immersive workspaces, enabling digital imagery, documents, video and animations to be displayed across walls.
In the past few months, Igloo’s immersive workspace technology has been installed by companies such as Nike, Deloitte, Microsoft, FedEx, Diageo and more. It has also been installed in more than 40 universities around the world, often to help deliver virtual lectures to remotely located students.
“As an ambitious technology company, we have carved out a strong reputation and have already partnered with many of the world’s biggest brands, with many more projects on the way,” Dennis Wright, CEO at Igloo Vision, said. “In the wake of the COVID-19 pandemic, more and more organizations are investigating our technology to find out how it can help them work faster, make better decisions and bring together teams from around the world.”
The £2 million funding round was led by a debt investment from Frontier Development Capital (FDC). Frontier Development Capital is a national fund manager supporting SME businesses with debt funding investments of up to £7 million. FDC has invested in Igloo previously, providing c. £1 million to the technology company in other funding rounds.
“Igloo Vision is leading the way in the development of shared immersive technology and software,” Graham Mold, head of growth capital at Frontier Development Capital, said. “FDC has supported Igloo throughout its growth journey, providing several rounds of funding and working with the company to realize its aims.”