VR Game Developer And Publisher Fast Travel Games Raises 4M USD in a new round of investment
Handelsbanken Fonder is leading the round, with existing owners adding new funds
STOCKHOLM -- October 10, 2023 -- Fast Travel Games, an award-winning developer and publisher of VR games, based in Stockholm, Sweden, today secured new investment of 4m USD.
Handelsbanken Fonder led the round, with existing owners Industrifonden, Brightly Ventures, Creades and Inbox Capital among others also adding new funds.
The new round will be used to expand Fast Travel Games’ efforts in developing its own IP for VR platforms as well as supporting its publishing initiatives. Currently the studio is working on Mannequin, the team’s first original IP in 4 years and its first ever multiplayer game, along with an unannounced title.
On the publishing side, Fast Travel Games recently announced a partnership with MoonHood, a new studio from the creators of games like Lost in Random, to develop a dark and thrilling new adventure. Next year, the team will also publish Project Demigod, one of VR’s first full-fledged superhero sandboxes. More publishing partnerships will be revealed in the near future.
Oskar Burman, CEO and co-founder of Fast Travel Games: 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 on the market, and we’re just about to launch our most ambitious game yet - Vampire: The Masquerade - Justice. We also saw our revenues grow 70% last year to 5M+ USD, and our strong growth continues this year. With this new investment we’re in a solid position to capitalize on this new exciting gaming frontier.”
Christian Brunlid, Investment Manager at Handelsbanken Fonder: “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. Their commitment to fantastic VR gaming experiences has already earned them impressive success and a strong reputation in their field. Handelsbanken Fonder is excited to help move them into the next phase of their journey as this rapidly evolving industry progresses.”
About Fast Travel Games
Fast Travel Games is a VR exclusive games publisher and developer based in Stockholm, Sweden, led by industry-leading veterans. The studio has launched critically acclaimed VR titles including Apex Construct, The Curious Tale of the Stolen Pets, Wraith: The Oblivion - Afterlife, Cities VR, Ghost Signal: A Stellaris Game, Broken Edge, Guardians Frontline, We Are One and more.
About Handelsbanken Fonder
Handelsbanken Fonder AB is a wholly owned subsidiary of Svenska Handelsbanken AB (publ). The fund company conducts active and passive equity, fixed income and allocation management. The fund company have been licensed to conduct fund operations since 1991 and now manages more than 100 funds, including both mutual funds and alternative investment funds. At year-end 2022/2023, Handelsbanken Fonder's assets under management amounted to just over SEK 800 billion. The fund company has approximately 110 employees, of which approximately 35 per cent are women – in senior positions, 43 per cent are women.