Stockholm-based Fast Travel Games, a VR games studio founded by industry veterans from Rovio, EA and DICE, has raised 2.1 million USD in Series A funding.
The round was led by Industrifonden, one of the most active and largest venture capital firms in the Nordic region, with participation from Creades, Inbox Capital and existing investor Sunstone Capital.
This latest infusion of capital will primarily be used to launch the studio’s first game, action-adventure VR title, and expand the team.
“While still in its infancy, virtual reality is becoming a platform where consumers can play and engage with games like never before,” says Fast Travel Games CEO and co-founder Oskar Burman. “We are excited to have these prominent Nordic investors by our side as we strengthen our team and expand upon our ability to bring these experiences to life for players.”
Beyond completing and launching its first title, Fast Travel Games will also use the latest funding to accelerate the growth of its team, allowing the studio to simultaneously begin pre-production of its next game. The studio plans to double in size in the year ahead and, since launch, has steadily grown its team with additional industry veterans.
“The games industry has been under-served by venture capital looking from a return on investment perspective,” says Industrifonden investment manager John Sjölander. “We see huge opportunity in VR moving to mass market and ubiquity. Combine these two factors with a stellar team and you have something that’s a very attractive investment.”
About Fast Travel Games
Fast Travel Games is a VR games studio focused on exploring VR gameplay experiences rich in social and storytelling components. The Stockholm-based company was founded in 2016 by industry veterans.
Learn more at www.fasttravelgames.com.
Industrifonden is a Nordic venture capital investor, partnering with tech and life science companies with global potential.
Learn more at industrifonden.com.