Tech

British VR company Improbable raises £388m

British VR company Improbable raises £388m”

London-based virtual reality (VR) company Improbable have secured $500 million (USD) in funding from Japanese banking firm Softbank.

The investment will give SoftBank (OTCMKTS:SFTBF) a "non-controlling" stake in the British start-up.

Narula said he and Whitehead discovered a mutual interest in multiplayer games and virtual worlds, which led the two to create the software for Improbable.

The Managing Director of Softbank Deep Nishar said: "Improbable is building breakthrough technologies that are becoming vital and valuable platforms for the global gaming industry". If you would like to discuss another topic, look for a relevant article.

"Improbable uses cloud-based computing to create virtual worlds for use in games as well as large-scale simulations of the real world", reports Mark Sweney for the Guardian.

They have stated that they intend to use the funds from the investment to continue to develop the company's technology for large-scale virtual words, the key to which is the distributed operating system Spatial OS.

Including the new round, Improbable has raised $524 million to date.

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The investment is an order of magnitude larger than any previous funding Improbable has taken.

The funds from the investment will go to developing Improbable's technology.

The system is being tested by the gaming industry but could also be used in a range of other areas such as medicine, city management, telecoms, and transport. SpatialOS can be used to create multi-player games that can be scaled to teams of any size, without dedicated network engineering and without initial infrastructure costs.

"To achieve both these ambitious goals, we need to take bold steps".

The round also drew support from Improbable's existing investors Andreessen Horowitz, an early investor in Facebook and Twitter; and Hong Kong-based Horizons Ventures, which has backed United Kingdom firms including Student.com, ROLI and what3words.

Improbable says its cutting-edge technology allows people to experience "virtual worlds" at a "far greater level of scale and computational complexity than previously possible, and while able to support more simultaneous connected users". It also plans to up recruitment at its London and San Francisco offices.

"We are already working on projects with telecommunications companies, governments and other enterprise clients to explore the ability of massive, detailed simulations to drive better decisions using real-world data", he teased.



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