VR studio nDreams nets $35 million to develop more "ambitious" titles

VR studio nDreams has received a $35 million investment to expand its internal studios and produce "more ambitious titles."

The funding comes from Aonic Group, a cohort of game-related technology and service providers based in Stockholm, Sweden.

Commenting on the deal, nDreams CEO and co-founder Patrick O’Luanaigh described the investment as a "pivotal moment."

"This investment is a pivotal moment for nDreams, and I’m delighted to have the support of Aonic, who share the same ambitious vision for the company that we do," said O'Luanaigh.

"As VR continues its trajectory towards becoming a truly mass-market technology, this is the rocket fuel needed to accelerate our rapid growth and take advantage of the many opportunities that continue to come our way."

The cash injection will also allow nDreams to bolster its publishing operations and further support its Academy initiative, which provides an industry talent pipeline that aims to bridge the gap between education and employment.

Looking ahead, nDreams explained it has numerous projects in development including multiple "next-gen" titles for PlayStation's upcoming PSVR 2 headset.