Shropshire VR firm’s international vision to become reality after £1m investment

A Shropshire-headquartered firm that designs and delivers immersive 360° virtual reality (VR) experiences and solutions for clients including BP, Microsoft and Uber, has received a £1million investment via Frontier Development Capital (FDC).

Igloo Vision develops projection domes and software to create 360° immersive virtual reality experiences
Igloo Vision develops projection domes and software to create 360° immersive virtual reality experiences

The funding will support Igloo Vision’s latest international expansion plans, as it grows its chain of sales and demonstration centres. The firm is to also undergo a recruitment drive, with seven new hires already planned.

The company is known for developing projection domes and cylinders which, when combined with its specialist software and technology, create unique 360° VR experiences for up to 750 people.

Calling itself a Shared VR company, Igloo can display any 360° content or VR in its immersive spaces. And, because entire teams can get inside these spaces and engage with the content, the technology is well-suited to training, simulation and visualisation, as well as events and experiences.

Since opening in 2007, Igloo has delivered more than 500 events and installations in 22 countries and now employs 50 people across offices in Shropshire, London, New York, Los Angeles, Toronto and Melbourne.

Dennis Wright, CEO at Igloo Vision, said:

“For a VR company we are unusual, because we are already profitable and selling to many of the world’s biggest brands. The one thing that has held us back is that we haven’t had enough investment to expand as quickly as we would have liked. Frontier Development Capital’s involvement now enables us to accelerate our growth.”

Last year, the business recorded £3.3million of American export sales after a string of contract wins. Igloo expects this to rise to £19 million within five years. It recently announced a new project with a global consulting firm to install Igloo systems at two US-based innovation centres, as well as a network of offices.

Frontier Development Capital is a national fund manager supporting businesses with investments of up to £7 million.

Graham Mold, Head of Growth Capital at Frontier Development Capital, said:

“Igloo Vision represents the best of British design and technology, something that has allowed it to make waves globally and build an impressive client roster. The demand for its products and services demonstrates the scale of the firm’s innovation and commitment to creating highly engaging experiences and solutions for its clients’ audiences.

“This investment, an innovative package of debt and equity, aims to provide Igloo with the backing it needs to build on this success and continue to disrupt new markets. If recent wins are anything to go by, the business has a hugely exciting future ahead.

“Frontier Development Capital is committed to supporting regional businesses and we look forward to working with Igloo Vision’s highly talented management team to unlock further growth domestically and internationally.”

Frontier Development Capital was advised by The Red Clover Partnership Ltd (due diligence) and The Wilkes partnership LLP (legal matters), and Igloo was advised by RJS Solicitors.

Shropshire Business News sponsored by...
Shropshire Live Business
The latest Shropshire business news from the Shropshire Live team. Send us your business news to business@shropshirelive.com. Interested in advertising with us from just £50 per week? Call Fiona on 01743 816 817 or email sales@shropshirelive.com.
- Advertisement -

Featured Articles

The Clive Arms

Farm to Fork Dining at its Best: The Clive Arms

The Clive Arms, just outside of Ludlow and part of the Earl of Plymouth's Oakly Estate has reopened following an extensive refurbishment, with a range of great new menus focusing on fresh and seasonal produce.
Visitors to Shrewsbury Food Festival will be able to watch demonstrations from food bloggers, top Michelin starred chefs and industry experts

Shrewsbury Food Festival returns for its seventh year

Shrewsbury Food Festival returns on the 29th and 30th June with 200 exhibitors, a bigger, better BBQ area, demonstrations, chef school, live music and lots of fun activities for kids.
Holding baby hand - Generic

Families affected by a birth injury suffer for life says a leading lawyer

Physical and psychological effects are lifelong and impact every area of a family’s life according to a birth injuries specialist.

Shrewsbury Acadamy one of three set to join Marches Academy Trust

Shrewsbury Academy, Grange Primary School and Longlands Community Primary School are set to join the Marches Academy Trust.

Telford landlord fined over false tenancies to dodge Council Tax

One of the directors of a Telford lettings agency has been fined for creating false tenancies to avoid paying council tax on empty properties.
Recent rainfall has meant Severn Park in Bridgnorth is not suitable for hosting this Sunday's event. Photo: Bridgnorth Town Carnival

Bridgnorth Town Carnival postponed following recent rainfall

Bridgnorth Town Council has postponed Bridgnorth Carnival which was set to take place this Sunday 23 June.
The 10K course takes runners through the town’s medieval streets and past some of Ludlow’s finest landmarks

Runners to take to the streets as Ludlow 10 returns this July

Runners will be taking to the streets of Ludlow on Saturday 13 July to take part in the third annual Ludlow 10 event.

Interview: Former Shrewsbury Town Defender Shane Cansdell-Sherriff

In an exclusive interview, former Shrewsbury Town defender Shane Cansdell-Sherriff looks back fondly at his time with the club.

Karol Jets is first signing for Telford Tigers 2 ahead of new season

Following the recent appointment of Dave Fielder as Telford Tigers 2 coach, the club has announced its first signing of the fast-approaching season.
- Advertisement -
Alison Bytheway and Kate Hearne are the new accounting solutions clerks at Dyke Yaxley Chartered Accountants in Shrewsbury

Alison and Kate join the Dyke Yaxley team

A Shropshire accountancy firm has welcomed two new accounting solutions clerks at its head office in Shrewsbury.
Stuart Perry, Creative Director at M3

Sehr gut! M3 roars forward with German wildlife attraction win

A Shropshire full service advertising agency has cast aside Brexit uncertainty to secure a major project for one of Germany’s leading wildlife attractions.
Sandy Olivir, activities coordinator at Coverage Care’s Lightmoor View home, is pictured with event promoter Nick Jeggo at Blists Hill Victorian Town

Shropshire care home provider backs major bike event

A Shropshire care home provider is supporting veteran cyclists after sponsoring one of the UK’s most unique cycle events.
Armed Forces Day takes place on Saturday 29 June. Photo: ©UK MOD Crown Copyright 2019

SSAFA Shropshire to mark Armed Forces Day 2019

A team of SSAFA volunteers will be hitting the streets of Shrewsbury later this month for Armed Forces Day, raising vital funds to aid the work they do.
FSC Chairman Professor Desmond Thompson is awarded The CIEEM Medal for his outstanding and life-long contribution to nature conservation and upland ecology

FSC chairman awarded top environmental accolade

The chairman of one of the UK’s leading environmental education charities is to be added to an A-list of highly influential ecologists.
Author Dave Courteen with a copy of More To Gain Than Just The Game at The Shrewsbury Club

Tennis stories the inspiration for stylish new book

A new book which combines inspirational first-hand tennis accounts with stunning photography is published this week.
- Advertisement -
Carnival King and Queen, Tommy Hughes and Amy Hampson

West Felton gears up for Carnival fun

A fun-packed spectacular is once again set to hit the streets of West Felton on Sunday 14 July 2019. Carnival King and Queen, Tommy Hughes and Amy Hampson The carnival...
Telford's Got Talent

Telford’s Got Talent final this weekend

The Telford’s Got Talent finals take place this weekend with thirteen acts battling it out this weekend to be crowned Telford’s Got Talent Winner 2019.
One of the Shire Horses at the event will be the Duchess

Shire horses from bygone era will be on display at Shropshire Vintage Show

The final preparations are taking place ahead of the 32nd annual Shropshire Vintage Show next month and some of ‘vintage vehicles’ on display will include 10 ‘heavy’ horses.
The Clive Arms

Farm to Fork Dining at its Best: The Clive Arms

The Clive Arms, just outside of Ludlow and part of the Earl of Plymouth's Oakly Estate has reopened following an extensive refurbishment, with a range of great new menus focusing on fresh and seasonal produce.
Visitors to Shrewsbury Food Festival will be able to watch demonstrations from food bloggers, top Michelin starred chefs and industry experts

Shrewsbury Food Festival returns for its seventh year

Shrewsbury Food Festival returns on the 29th and 30th June with 200 exhibitors, a bigger, better BBQ area, demonstrations, chef school, live music and lots of fun activities for kids.
Jason Bradley, the owner of Bradley’s Butchers & Delicatessen, with, left, Helen Bourne, property manager for TSR, and Amie Barter, agency surveyor for TSR, who handled the letting of the premises

New butchers and delicatessen opens in Shrewsbury

A new butchers and delicatessen has opened its doors in Shrewsbury. next to the town’s busy Column roundabout.
- Advertisment -

Featured Articles

Weather

Shropshire
broken clouds
17.8 ° C
19.4 °
16.1 °
68 %
3.6kmh
75 %
Tue
18 °
Wed
15 °
Thu
15 °
Fri
15 °
Sat
17 °
- Advertisment -
- Advertisment -

Latest Articles

- Advertisment -