Fracked and Phantom developer nDreams announced today an investment of $35 million that will help the grow the studio on all fronts, while also confirming work on unannounced titles for PSVR 2.
The investment comes from Aonic Group. In a prepared statement, nDreams co-founder and CEO Patrick O’Luanaigh called the investment a “pivotal moment” for the company that will help “accelerate our rapid growth and take advantage of the many opportunities that continue to come our way.”
The press release from nDreams announcing the investment also confirmed that the studio has a line-up of projects already in development, “including next-gen games for the PlayStation VR2.”
nDreams has seen several funding rounds since it moved into VR development roughly 10 years ago now, and released several high profile titles in recent years including last summer’s PSVR exclusive shooter, Fracked.
Initially, just one studio, in the last year the company opened two additional studios producing VR content. The second studio, opened in July 2021, is called nDreams Orbital and is dedicated to making “live games for VR.” The third, opened a few months later in January, is called nDreams Studio Elevation and is focused on producing new IPs and AAA VR experiences.
Just over a year ago, nDreams also set up a $2 million publishing fund to help develop, market and publish external VR titles from other developers. The first release under this fund will be Little Cities in Spring.
nDreams says the $35M investment will be used to help create more ambitious VR experiences and grow its three internal studios, while also allowing them to expand their new publishing initiative.
While the studio has been around since 2006, it first took the dive into VR in 2013. You can read more about nDreams’ journey in our exclusive and in-depth profile featuring Chief Development Officer Tom Gillo here.