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Frontgrid secures £100k investment
04 Mar 2019 . BY Lauren Heath-Jones
L-R: Mike Calvert from Reward Finance Group, Matt Wells and David Wood from Frontgrid and Ian Adams from Bathgate Business Finance at the opening of the Paradrop VR attraction at iFly Basingstoke
Photo: Steve Smyth Photography
Immersive VR group Frontgrid, creator of the Paradrop VR attraction, has secured £100k funding from Reward Finance Group, a Manchester-based SME funder, that will aid the company's growth across the global attractions market.

Secured by finance specialists Bathgate Business Finance, the funding has already been used to create a single unit of the company's Paradrop VR attraction to exhibit at national and international trade shows, giving prospective buyers the opportunity to trial the experience.

In addition, the company has reported that growth has 'accelerated rapidly' following the investment, securing a number of orders in India, Malaysia, Dubai and Thailand.

Matt Wells, CEO at Frontgrid, said: There is a huge global shift towards the experience economy and active leisure. People are looking for unique, social and memorable experiences beyond just staring at a screen."

"However, more than 50 per cent of the world's population now live in cities and don't have easy access to the adventurous, adrenaline fuelled experiences that we are so passionate about. ParadropVR brings that opportunity directly to those people," Wells added.

MIke Calvert from Reward Finance Group said: "We had no hesitation in backing Frontgrid. We quickly saw the potential in both the business idea and the passion the founders showed. Supporting a new startup company is always rewarding and the fact that it produces a virtual reality ride makes it even more exciting."
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Jobs . News . Products . Magazine
PRODUCT NEWS
Frontgrid secures £100k investment
04 Mar 2019 . BY Lauren Heath-Jones
L-R: Mike Calvert from Reward Finance Group, Matt Wells and David Wood from Frontgrid and Ian Adams from Bathgate Business Finance at the opening of the Paradrop VR attraction at iFly Basingstoke
Photo: Steve Smyth Photography
Immersive VR group Frontgrid, creator of the Paradrop VR attraction, has secured £100k funding from Reward Finance Group, a Manchester-based SME funder, that will aid the company's growth across the global attractions market.

Secured by finance specialists Bathgate Business Finance, the funding has already been used to create a single unit of the company's Paradrop VR attraction to exhibit at national and international trade shows, giving prospective buyers the opportunity to trial the experience.

In addition, the company has reported that growth has 'accelerated rapidly' following the investment, securing a number of orders in India, Malaysia, Dubai and Thailand.

Matt Wells, CEO at Frontgrid, said: There is a huge global shift towards the experience economy and active leisure. People are looking for unique, social and memorable experiences beyond just staring at a screen."

"However, more than 50 per cent of the world's population now live in cities and don't have easy access to the adventurous, adrenaline fuelled experiences that we are so passionate about. ParadropVR brings that opportunity directly to those people," Wells added.

MIke Calvert from Reward Finance Group said: "We had no hesitation in backing Frontgrid. We quickly saw the potential in both the business idea and the passion the founders showed. Supporting a new startup company is always rewarding and the fact that it produces a virtual reality ride makes it even more exciting."
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VRStudios has announced that it will develop a new experience exclusive to Dave & Buster's.
Simworx unveils rebrand
Simworx, a UK-based developer of media-based attractions, has debuted a fresh new logo.
Troostwijk to host online auction for trackless trains and fun cars
Troostwijk Auctions is hosting an online auction of trackless trains and fun cars
The Simpsons in 4D opens at Myrtle Beach
A new Simpsons-themed 4D theatre attraction has opened at Broadway at the Beach, an entertainment complex in Myrtle Beach, South Carolina.
+ More products  
LATEST JOBS
Interpretation and Engagement Manager
Chatsworth House
Salary: Competitive
Job location: Bakewell, UK
Children's Garden Hosts
Royal Botanic Gardens Kew
Salary: £18,589 per annum pro rata
Job location: Richmond, UK
Senior Aquarist
Sea Life
Salary: Competitive
Job location: Mooloolaba QLD, Australia
Commercial Team Lead
Legoland Discovery Centre
Salary: Competitive
Job location: Auburn Hills, Michigan, USA
Commercial Duty Manager
Sea Life
Salary: Competitive
Job location: Grapevine, Texas, USA
Seasonal Operations Trainer
Legoland Discovery Centre
Salary: Competitive
Job location: Yonkers, NY, USA
+ More jobs  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

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