Business
£1m invested in nDreams as part of £2m syndication
£1m invested in nDreams as part of £2m syndication.
About this update from Mercia Asset Management Plc
[{"type":"text","content":"\n \nRNS Number : 2677P Mercia Technologies PLC 16 November 2016 \n\nRNS 16 November 2016\n \nMercia Technologies PLC\n \n£1.0million investment in nDreams as part of £2.0million syndication\n \nMercia Technologies PLC (AIM: MERC, \"Mercia\" or the \"Group\") a national investment group focused on the creation, funding and scaling of innovative technology businesses with high growth potential from the UK regions, is pleased to announce a follow-on investment of £1.0million into nDreams Limited (\"nDreams\"), one of the UK's largest independent developer and publisher solely focused on virtual reality (\"VR\") gaming and experiences content. \n \nMercia's investment is part of a £2.0million funding round alongside a group of angel investors. The pricing of this funding round endorses Mercia's recent Half Year Results fair value assessment of its holding in nDreams. Since IPO, Mercia has invested £5.1million in nDreams and the Group now holds 41.0% of nDream's total issued share capital. \n \nThis additional capital will enable nDreams to further penetrate the VR market which, according to research from Digi Capital, is estimated to reach $30.0billion within the next four years. Having launched its award-winning game, The Assembly, on Sony's PlayStation VR in October 2016, following its successful debut on Oculus Rift and HTC Vive earlier in the year, nDreams has recently published Danger Goat (https://play.google.com/store/apps/details?id=com.ndreams.dangergoat&hl=en), its first title for Google on Daydream, Google's new high-quality mobile VR platform. Google is one of a number of partnerships nDreams has secured with...