VR company Immotion Group completes fundraising

National law firm Freeths, has advised virtual reality (VR) business, Immotion Group plc, on an equity issue of £300,000.

Immotion Group plc is a UK based VR Out-of-Home entertainment business which provides immersive VR ‘edutainment’ experiences, on a global basis to popular tourist destinations operated by household names including Merlin, Sea Life and Legoland.The fundraising, effected via a subscription following the approach of an existing institutional shareholder, will be used for working capital purposes whilst helping to accelerate the company's growth plans. It follows an accelerated book build which Freeths under took for Immotion in November 2020 raising £1.2 million.Leading on the transaction for Freeths was Partner, Jeremy Swift and Senior Associate Henrietta Rendell.Commenting on the deal, Jeremy Swift said, "We're pleased to have advised Immotion Group on its fundraising plans which will propel the business forward to the next stage of their expansion on a worldwide basis. This transaction demonstrates our strong technology sector capabilities and industry knowledge. We look forward to working with the company on their future growth strategy."Martin Higginson, CEO of Immotion Group added, "This transaction again demonstrates the value of our long-standing relationship with Jeremy and Freeths. The strategic legal advice Jeremy and his team provide us with has supported us at every stage of our journey so far.”

For further information please contact Jeremy Swift at [email protected]  or on 07973886906.