'Wraith: The Oblivion VR' Studio Fast Travel Games Raises $4M Investment – Road to VR

The Entire VR Industry in One Little Email

The Daily Roundup is our comprehensive coverage of the VR industry wrapped up into one daily email, delivered directly to your inbox. 

Fast Travel Games, the Sweden-based VR developer and publisher behind titles such as Wraith: The Oblivion – Afterlife (2021) and Apex Construct (2018), today announced a new investment worth $4 million.

Brightly Ventures, a Nordic early-stage tech investment firm, led the round, and includes existing owners Industrifonden, Creades, and Inbox Capital. According to data provided by Crunchbase, the studio’s lifetime outside investment is now over $6.1 million.

Founded in 2016 by industry veterans from Rovio, EA and Dice, Fast Travel Games has grown to over 30 employees in the last five years. To date, the studio has released four VR titles including Apex Construct, The Curious Tale of the Stolen Pets, and Wraith: The Oblivion – Afterlife, and Budget Cuts 2: Mission Insolvency, which was co-developed with fellow Stockholm-based studio Neat Corporation.

“We’ve seen amazing growth in the VR market lately with lots of gamers now realising just how much the VR space has matured, in terms of hardware, pricing and access to content,” said Oskar Burman, CEO and co-founder of Fast Travel Games. “With four games on the market, and several new in development, we saw our revenues double to 2.4M USD last year, and are well on track to double that again for this year. With this new investment we’re in a stronger position than ever to capitalize on this new gaming frontier.”

The studio says its latest round of investment puts it in “a strong position to accelerate its pace going forward.” And yes, Fast Travel Games is hiring.

Source: Read Full Article