Cooperative Innovations Closes £500K Seed Funding, Launches VR Animation Tech ‘Ikabod’

British virtual reality (VR) developer Cooperative Innovations – the team behind Raiders of Erda – has announced the closure of a seed funding round, securing the company £500K of investment. Alongside, the funding, the studio has released a proprietary VR animation technology, Ikabod. The investment came from a number of sources, including angel investor Craig Fletcher, Ascension Ventures and Trend Investment Group. The company plans on expanding its employee cap whilst launching a pilot licensing programme for Ikabod. The cash will also be used to continue Cooperative Innovations’ ongoing research and development into immersive technologies, as well as its MMORPG VR experience, Raiders of Erda, plus an unannounced multiplayer VR/AR title.“Securing this investment really allows us to scale-up the studio and continue to build on our core technologies and tools,” said CEO and co-founder Simon Barratt in a statement. “We’re passionate about immersive experiences as the future of work, life and play, and we’re excited about the opportunity to grow the team, continue our R&D, and release some of our original IP too!”