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.
- Advertising -

Victims of sexual assault at Telford nightclub sought

Police investigating a sexual assault in a Telford nightclub are appealing for two possible victims to get in contact.

Three arrested after 16-year-old boy stabbed in Telford town park

A teenager is in a serious but stable condition after he was stabbed in Telford town park on Thursday afternoon.
Homes and businesses across Shropshire have been flooded. Photo: Chris Pritchard

Shropshire Flood Appeal launched to help victims of storms Ciara and Dennis

A special appeal has been launched to help people across Shropshire who are victims of the recent floods.

Match Preview: Shrewsbury Town v Doncaster Rovers

Shrewsbury Town begin a crucial double-header against Doncaster Rovers as they aim to turn their fortunes around.
Jordan Evans is all set for his 24-hour Tennisathon at Bridgnorth Tennis Club to raise funds for Prostate Cancer UK

Shropshire tennis player set for 24-hour challenge ahead of London Marathon

Shropshire tennis player Jordan Evans will be playing his longest and toughest ever game next week - for 24 hours.
Gary Plant and Jack Light

Bronze medal and safeguarding code mark for Bridgnorth TKD

Jack Light, a keen martial artist from Bridgnorth Tae Kwon-Do, travelled from the club's base at Oldbury Wells School to Swindon last weekend to compete at an international competition.
- Advertising -
Sam Barnett, Employment Law Paralegal at Aaron & Partners, Keith Winter from Dyke Yaxley, and Hugh Strickland, Aaron & Partners’ Corporate Finance Partner

Aaron & Partners celebrate milestone year

Shrewsbury-based Aaron & Partners held its annual New Year Drinks event at Shropshire’s iconic Drapers Hall, to celebrate a record-breaking year for the firm.
Home Instead Shrewsbury celebrates being ‘Outstanding’

Local care company rated Outstanding by the CQC

Home Instead Senior Care Shrewsbury, Ludlow and Oswestry, has been described as providing the ‘gold standard’ of care in a Care Quality Commission report which has secured a highly coveted ‘outstanding’ rating.
Retirement Living, ICT and Construction Ready staff at The Wrekin Housing Group

Treble success for Housing Group

The Wrekin Housing Group has been shortlisted for three awards at the prestigious UK Housing Awards (UKHA) which recognise and reward the very best of the UK housing sector.
Boyzone’s Shane Lynch

VIPs help put the wheels in motion for Bike4Life

Sunday 26 April sees the return of Midlands Air Ambulance Charity’s annual Bike4Life Ride Out and Festival event.
Mike Coppock and Sue Turner

New local music charity receives its first donation

A new Oswestry-based local music charity has been grateful to receive its first donation of musical instruments.
Severn Hospice eBay store worker Lis Evans

Severn Hospice launches eBay shop

Bargain hunters can shop and support families without leaving their home after a charity’s eBay store opened to the world.
- Advertising -

Tickets go on sale for Telford panto

Following another record-breaking season, tickets have gone on sale for this year's pantomime at The Place in Telford.
Shrek the Musical was performed by Get Your Wigle On at Shrewsbury's Theatre Severn

Review: Shrek the Musical at Shrewsbury’s Theatre Severn

Local musical theatre company Get Your Wigle On last week pulled out all the stops to bring Shrek the Musical to Theatre Severn.
Shropshire Kids Festival returns to the Telford International Centre in April

Shropshire Kids Festival returns to Telford International Centre

Shropshire Kids Festival is back at the Telford International Centre on the 10th and 11th April 2020.
Emma Williams

New healthy take-away business added to Frestival line-up

A Shropshire woman, who launched her own healthy-eating take-away business, has been announced as the latest chef to take part in a county festival.
Adam Purnell, known as the Shropshire Lad will be demonstrating his unique cooking skills at Frestival in May. Photo: Jamie Ricketts

Star of Channel 4 show to headline Shropshire festival

The star of Channel 4 cookery programme Crazy Delicious will be headlining at a Shropshire festival specialising in free-from foods and those suffering with allergies.
Phil is a chef, presenter and cookery book author

Phil Vickery to headline Shrewsbury Flower Show’s culinary stage

Phil Vickery, one of the nation’s favourite TV chefs, has been unveiled as the headline attraction for Shrewsbury Flower Show’s culinary stage this year.
- Advertisment -

Weather

Shropshire
overcast clouds
8.9 ° C
10.6 °
6.7 °
76 %
11.8kmh
90 %
Fri
9 °
Sat
11 °
Sun
12 °
Mon
10 °
Tue
6 °
- Advertisment -
- Advertisment -

Latest Articles

- Advertisment -