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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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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."
PRODUCT NEWS
IEE PREVIEW: Red Raion to showcase new film
At this year's IAAPA Expo Europe (IEE), formerly the Euro Attractions Show, Red Raion will be presenting a new CGI film,
IEE PREVIEW: Huss Park Attractions announces two major installations
At this year's IAAPA Expo Europe (IEE), formerly the Euro Attractions Show, Huss Park Attractions will announce the installation of two major attractions.
IEE PREVIEW: Technical Park exhibiting multiple projects
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IEE Preview: Gateway to present Galaxy product suite
At this year's IAAPA Expo Europe (IEE), formerly the Euro Attractions Show, Gateway is offering its Galaxy product suite.
IEE PREVIEW: OpenAire to discuss upcoming waterpark
At this year's IAAPA Expo Europe (IEE), formerly the Euro Attractions Show, OpenAire will be on hand to discuss its newest waterpark.
Simworx to launch new products at IEE
Simworx, a UK-based developer of dynamic media-based attractions, is set to launch two new products, the AGV Dark Ride and the Mini Flying Theatre, at this year's IAAPA Expo Europe.
IEE PREVIEW: Garmendale to unveil major new project
At this year's IAAPA Expo Europe (IEE), formerly the Euro Attractions Show, Garmendale will be revealing details of a major new project.
Jora Vision to create panda museum in China
Jora Vision, a Netherlands-based attractions design firm, has won a competition to develop a museum experience at The Giant Panda Breeding Research Base in Chengdu, China.
IEE PREVIEW: Clip 'n Climb to debut Clip 'n Score technology
At this year's IAAPA Expo Europe (IEE), formerly the Euro Attractions Show, Visitors will get the chance to be the first to try out Clip ‘n Score, the new cutting-edge software from Clip ‘n Climb.
IEE PREVIEW: Intamin to showcase LSM Double Launch Coaster
At this year's IAAPA Expo Europe (IEE), formerly the Euro Attractions Show, Intamin will be exhibiting its LSM Double Launch Coaster Taiga.
Simworx launches new time-travelling attraction
Simworx, a UK-based developer of dynamic media-based attractions, has launched a brand new attraction.
IEE PREVIEW: Vekoma to discuss upcoming projects
At this year's IAAPA Expo Europe (IEE), formerly the Euro Attractions Show, Vekoma will be on hand to discuss its upcoming projects.
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Sally Corporation

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VIDEO GALLERY

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ADVERTISE . CONTACT US

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

©Cybertrek 2019

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
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