Glo gets $3 million funding from Alibaba for its location-based VR entertainment stations and licensed its GloStation to IMAX for its VR center in Los Angeles.
The investment for Glo came from Alibaba Hong Kong Entrepreneurs Fund, Presence Capital Fund, Mindworks Ventures, CRCM Ventures and angel investors.
The Hong Kong based company will use the investment to speed up content development and to launch its proprietary VR system ‘GloStation’ globally.
IMAX has licensed the GloStation technology platform for Glo’s IMAX Virtual Reality Center in Los Angeles, announced Glo. The company is soon to launch more IMAX VR Centers in New York and other cities.
“GloStation is a highly interactive, social and thrilling virtual reality experience – making it a perfect fit for IMAX’s location-based VR centers,” said Rob Lister, chief business development officer at IMAX.
IMAX first licensed Glo’s Zombie virtual reality experience ‘Deadwood Mansion’ which is a 30-minute VR experience that immerses a group of people into a virtual world to hunt down a deranged doctor in his mansion full of zombies.
“Customer feedback on the Deadwood Mansion VR experience at our center in Los Angeles has been fantastic, and we look forward to working with Glo Inc. to bring GloStation to other IMAX VR Centres around the world,” said Rob.
Glo was founded in May 2016 in Hong Kong by game veteran Steve Zhao to build a “hyper-reality escape room” where several friends or colleagues form a team to complete an objective and ‘escape’ the VR room.
“We opened our showroom in Hong Kong late June, and for the next 100 days, we were 100 percent sold out each single day,” Zhao said in a statement. “Weekend tickets are now booking months in advance into 2018. Now, with this new investment, we will be able to scale our proprietary free-roaming VR system GloStation to cities globally. We’re delighted to be working with IMAX to introduce our experience to their world-class VR centres.”
Zhao has previously created Blue Tea Games, an international computer games development studio famous for its hidden object adventure games.
Alibaba sensed the potential in GloStation and therefore invested in the VR firm. “GloStation provides a unique immersive VR experience that combines the latest VR technologies with highly social elements. Steve is a successful serial entrepreneur with roots in Hong Kong, and we believe Glo will be a leader in the next generation of Hong Kong startups,” said Cindy Chow, executive director of Alibaba Hong Kong Entrepreneurs Fund.
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