Fast Travel Games Secures $4 Million Investment for VR Game Development
Fast Travel Games, the prominent VR game developer and publisher, recently announced that it has successfully closed a new investment round of $4 million. The company aims to utilize this funding to further develop its own intellectual properties (IP) for VR platforms and support its ongoing publishing initiatives.
The investment round was led by Handelsbanken Fonder, a renowned investment firm, with existing owners Industrifonden, Brightly Ventures, Creades, and Inbox Capital, among others, also contributing additional funds.
Expanding VR Game Portfolio
Based in Stockholm, Fast Travel Games has gained recognition for developing a range of immersive VR games. Some of their notable titles include “Wraith: The Oblivion – Afterlife” (2021), “Apex Construct” (2018), “The Curious Tale of the Stolen Pets” (2019), and “Cities: VR” (2022).
In addition to game development, Fast Travel Games ventured into publishing in 2021. The company forged partnerships and signed publishing agreements with numerous indie game titles, including “Broken Edge” (2022), “We Are One” (2023), “EVERSLAUGHT Invasion” (2023), and “Virtuoso” (2022).
Thriving VR Market
Oskar Burman, the CEO and co-founder of Fast Travel Games, expressed optimism about the growth potential of the VR games market. He stated, “The VR games market continues to grow at a steady pace, and with the introduction of the PS VR2 and the Quest 3 this year, and the Apple Vision Pro around the corner, we’re confident this growth will continue.”
Burman added that Fast Travel Games currently has twelve games on the market, with the highly anticipated game “Vampire: The Masquerade – Justice” about to be launched. He also highlighted the company’s impressive revenue growth of over 70% last year, surpassing $5 million. With the new investment, Fast Travel Games aims to capitalize on the expanding VR gaming frontier.
Aside from “Vampire: The Masquerade – Justice,” Fast Travel Games revealed that it is actively working on two other VR games. The first is a multiplayer game based on an original IP called “Mannequin.” The second project remains undisclosed, leaving room for anticipation and speculation among gaming enthusiasts.
Moreover, Fast Travel Games recently announced a partnership with MoonHood, a new studio founded by the creators of games like “Lost in Random.” The collaboration aims to develop a VR game based on physical models, offering a unique gaming experience. Additionally, Fast Travel Games will publish “Project Demigod,” a physics-based superhero sandbox game developed by New York-based indie studio Omnifarious Studios, in the upcoming year.
Embracing VR Gaming Opportunities
The investment secured by Fast Travel Games highlights the thriving VR gaming market. As technological advancements continue to enhance the VR experience, the industry is poised for further growth. Fast Travel Games’ commitment to developing engaging VR games and expanding its publishing initiatives positions the company to take advantage of the exciting opportunities that lie ahead.