LONDON - Infinite Reality ("iR"), a company specializing in immersive technology, has raised an additional $3 billion in equity, boosting its indicative valuation to $12.25 billion. This financial move was made public on January 8, 2025, and includes the execution of a five-year deal with Google (NASDAQ:GOOGL) Cloud.
Additionally, iR has announced the launch of FIM SGP-Verse, a new venture in collaboration with Warner Bros Discovery (NASDAQ:WBD) Sports. The details of these recent developments were highlighted in a press release by Sure Ventures PLC, a venture capital firm with a stake in iR.
Sure Ventures PLC is connected to iR through its first Sure Valley Ventures fund ("SVV1"), which holds equity in iR following the acquisition of its portfolio company Landvault in July 2024. The transaction at the time was valued at $450 million in an all-share deal, with SVV1 having a 7% shareholding in Landvault. Sure Ventures PLC itself owns a 25.9% stake in SVV1.
SVV1 focuses on investments in software companies, with an emphasis on AI and machine learning, Immersive Tech, the Metaverse, and Cybersecurity sectors. Its investors include the British Business Bank and Enterprise Ireland, making it a fund with sovereign-backed support.
Gareth Burchell, Director of Sure Ventures PLC, expressed satisfaction with the fundraising and valuation achieved by iR, indicating a strong financial position for the company to continue its growth strategy. Burchell remarked that this development is promising for the future realization of their investment in iR. He also noted that the portfolio of SVV1 is now in "exit mode," as the companies mature, hinting at future updates on exits and shareholder rewards.
This news is based on a press release statement and is intended to inform stakeholders of the latest financial and strategic milestones achieved by Infinite Reality and its association with Sure Ventures PLC.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.