Polish VR game producer Iron VR goes public and raises over $650k
As reported by wnp.pl, Iron VR has undertaken an IPO and raised more than $650,000 from investors.
Iron VR is a subsidiary of Polish VR game developer and publisher Carbon Studio. Unlike its parent company, Iron VR focuses primarily on creating simple games with small budgets, $25,000-$80,000, and short production periods, from 3 to 7 months. The first original title of IronVR will be Holy Chick! an Escape Room Game. The premiere of this game is planned for the first quarter of 2021, for PC VR platforms.
Besides, on November 23, the Studio signed an agreement with Movie Games, one of the stakeholders of Iron VR, on transferring Lust for Darkness and Alaskan Truck Simulator to the VR world.
The collected capital will be used for the further development of the startup. In particular, Iron VR is going to invest $80,000 in expanding the team, over $50,000 will be spent on operational costs and the rest of the sum – on the production of games. In the second quarter of 2021, the company also plans to enter the NewConnect stock exchange.