Huge funding boost for virtual reality start-up.
A BRITISH start-up has raised more than PS390m in funding to develop its virtual reality technology, reportedly sending its value over $1bn (PS780m).
Improbable received the huge injection of cash from Softbank, a Japanese telecoms provider and energy company, to build up its "virtual world and massive-scale simulation technology". The investment will be seen as an endorsement of the UK's technology sector as worldleading, while the firm says its innovations will revolutionise how humans understand reality.
Herman Narula, Improbable's 29-year-old chief executive, said: "We believe that the next major phase in computing will be the emergence of large-scale virtual worlds which enrich human experience and change how we understand the real world.
"At Improbable we have spent the last few years building the foundational infrastructure for this vision." The tech uses cloud-based servers to create virtual worlds for games with many players, as well as simulations of the real world on a vast scale.
Improbable is also researching how to use the technology in a range of applications, including city management, cyber security and telecommunications.
|Printer friendly Cite/link Email Feedback|
|Publication:||The Journal (Newcastle, England)|
|Date:||May 13, 2017|
|Previous Article:||New man at the helm of North East cancer charity; CHARITIES.|
|Next Article:||BROADBAND... make sure you're up to speed; CONSUMER RIGHTS CHAMPION.|