Virtual reality studio Fast Travel Games announced that it has raised over $4 million in a funding round.
The Stockholm, Sweden-based studio, which was formed in 2016, said that it would use the money to create more VR titles.
Fast Travel Games was founded by a group of successful veterans from various gaming companies from Rovio, DICE, and EA to make “socially rich” VR experiences. The companies are behind some of the best-known games, such as Angry Birds 2, Mirror’s Edge Catalyst, and the Battlefield franchises. The founders were able to raise $2.1 million through fundraising in 2017, which has been used for establishing their company so far.
“We feel that VR offers limitless possibilities and that its inherent qualities make it perfectly suited for storytelling and socially rich experiences,” said Burman. “We’re looking to define a new genre of games for VR. Our games will focus strongly on narratively rich worlds full of possibilities for exploration and social gameplay, where players can cooperate, share worlds and experiences, and play together.”
One of the co-founders is Oskar Burman, who is a former general manager at Rovio. Burman serves as the CEO of the company.
Fast Travel Games has already released virtual reality titles such as The Curious Tale of the Stolen Pets, Wraith: The Oblivion – Afterlife, Apex Construct, and Budget Cuts 2 for Oculus, HTC Vive, PlayStation VR, and Valve Index.
The funding round was led by Nordic VC Brightly Ventures, with additional funds from existing investors Industrifonden, Inbox Capital, and Creades.
Though no specific plans have been made public regarding how the company will utilize the funds, Fast Travel Games has reiterated that the investment will put the company in a strong position and propel its growth.
In a statement, Burman said that the company’s revenue doubled in 2020 to $2.4 million, and from what he sees currently, they are well on their way to doubling it again for this year.