Fast Travel Games, a Stockholm-based creator and publisher of virtual reality (VR) games, revealed on Tuesday that it has secured €3.7 million in a round of investment headed by Handelsbanken Fonder, with participation from previous backers Industrifonden, Brightly Ventures, Creades, and Inbox Capital.
The additional financing will aid Fast Travel Games’ publishing ambitions and the creation of new intellectual property for VR platforms. Mannequin, the studio’s first original IP in four years, and its first-ever multiplayer game are now under development.
Fast Travel Games is a publisher and developer of VR-only video games under the direction of pioneers in the field. In addition to Apex Construct, The Curious Tale of the Stolen Pets, Wraith: The Oblivion: Afterlife, and other popular VR games, the company also produced several other notable VR games.
According to Oskar Burman, CEO and co-founder of Fast Travel Gaming, “The VR games market continues to grow at a steady pace, and with the introduction of the PSVR2 and the Quest 3 this year and the Apple Vision Pro around the corner, we’re confident this growth will continue.”
We now have twelve games available, and Vampire: The Masquerade: Justice, our most ambitious title to date, is ready to be on sale. Our sales increased by 70% last year to $5 million or more USD, and our rapid growth is still going strong. With this additional investment, we’re well-positioned to profit from this intriguing new gaming market, says Burman.
Possibilities for the VR Market
Virtual reality (VR) in gaming is anticipated to rise from €7.47 billion in 2021 to €50.42 billion in 2028, at a CAGR of 31.4%. According to Fortune Business Insights, this increase is a result of gamers using more cutting-edge VR accessories and equipment.
The Apple Vision Pro was one of the most recent pieces of VR hardware and gear, unveiled at the company’s Worldwide Developers Conference (WWDC) in June 2023. Users may transition between virtual reality (VR) and augmented reality (AR) experiences with a simple dial turn.
Due to the large market potential, more start-up businesses are entering the industry to provide cutting-edge software and content. The key drivers of the increase are game content, cloud-based gaming, and 5G technology improvements.
“The VR space continues to see impressive growth, and Fast Travel Games is well positioned to lead that charge in the coming year and beyond,” claims Christian Brunlid, investment manager at Handelsbanken Fonder.
“Their dedication to creating outstanding VR gaming experiences has already brought them notable success and a solid reputation in their industry. As this fast-changing business develops, Handelsbanken Fonder is eager to assist them in entering the next stage of their journey, says Brunlid.
The most recent collaboration with Moonhood
On the publishing front, MoonHood, a new company from the designers of games like Lost in Random and Fast Travel Games, announced a partnership to create a sinister and exciting new adventure.
According to the studio’s website, MoonHood, based in Gothenburg, Sweden, wants to “immerse players in strange worlds handcrafted in actual clay, cardboard, and what have you.”
MoonHood has hired sculptors and miniature painters to create the game’s physical components. After being 3D scanned, the sculptures will be animated in Blender and other engines. Although the specific platforms have not yet been revealed, the game is planned for release on consoles, PCs, and VR headsets.
MoonHood disclosed in a partnership announcement video that the studio collaborates with a second unknown partner. According to the studio’s website, “one of the biggest platforms” is supporting the project.
According to Patrick Liu, head of publishing at Fast Travel, “by partnering with the talented creatives at MoonHood, we can continue to work toward [our] goal by creating a surreal game not yet seen on any platform.”
“MoonHood’s team of veteran storytellers and artists has captured fantastical ideas from the imagination and brought them stunningly to life with real clay sculptures, making it a must-play game,” he continues.
The Fast Travel team will release one of VR’s first complete superhero sandboxes, Project Demigod, the following year.
