Apicap, the manager of the Trust Esport fund, has pledged an initial €1.5m investment in smartVR, a French VR operator and studio.
Launched in early 2018, smartVR boasts a virtual reality offering ranging from production of exclusive multiplayer games, including After-H, to turnkey outfitting of free-roam arcades and open gaming areas.
SmartVR is enjoying rapid growth, with sales exceeding €1.5m as of 2019 and already comprises a worldwide network of nearly 200 VR arcades.
By joining forces with Trust Esport, smartVR will accelerate its development in France and abroad, benefiting from both the fund’s considerable financial resources and the strategic support of its partners.
The company has lofty ambitions in the wake of the investment. Among the goals in its roadmap, it aims to become the leading worldwide esports VR operator and to roll out its network of VR arcades around the world, all equipped with the smartVR Store and the After-H game.
Jean Mariotte CEO of smartVR stated: “SmartVR aims to incorporate esports into the indoor entertainment market by introducing a turnkey equipment offering, a financing solution and an exclusive catalogue of VR games, intended both for independent arcade managers and innovative leisure parks.”
Matthieu Dallon founder of Trust Esport, added: “SmartVR puts forth a unique and comprehensive offering that meets the needs of entertainment venues. The support of Trust Esport will help smartVR step up its business development worldwide, in terms of both sales and additional esports services, which will be key to fostering customer loyalty.”
Alain Esnault CEO of Apicap, said: “We are extremely happy with this first investment, and more announcements will follow. The esports sector is still in its infancy and the initial round of fundraising was a success, in particular thanks to our sponsors, FIMALAC, Française des Jeux and Amaury Group. We have since received several expressions of interest and are not ruling out another fundraising campaign in the near future.”
