Fallen Planet Studios, a pioneering Virtual Reality (VR) gaming company headquartered in Southport, Merseyside, has secured a significant investment of £500,000 from fund:AI, managed by River Capital. The infusion of capital is earmarked for the development of new gaming titles, with a strong focus on the integration of Artificial Intelligence (AI) to revolutionize their workflow. This strategic partnership is poised to redefine the gaming experience for VR enthusiasts.
A leader in VR gaming
Fallen Planet Studios has emerged as a frontrunner in the VR gaming industry, boasting deep-seated partnerships with major platforms such as Sony and Meta (formerly Facebook). Their VR game titles have consistently ranked among the top 10 most downloaded VR games of all time. This track record reflects their commitment to pushing the boundaries of immersive gaming.
AI-powered innovation beckons
AI is taking center stage in Fallen Planet Studios’ strategy for future game development. The £500,000 investment from fund:AI will catalyze the infusion of AI technologies throughout their game development pipeline. The objective is to augment their proprietary toolsets, elevating gaming experiences and enabling the studio to glean valuable player insights.
CEO of Fallen Planet Studios, Alex Moretti, affirms their dedication to technological innovation. Founded in 2013 with a singular focus on the nascent Virtual Reality industry, the exploration and adoption of new technologies are integral to Fallen Planet Studios’ DNA. Moretti stated, “This strategic investment from River Capital will support our commitment to innovation, accelerating the implementation of AI technologies across our game development pipeline by enhancing our proprietary toolsets, whilst enabling us to elevate our gaming experiences by deriving and responding to valuable player insights.”
AI’s impact on gaming
David Walters, the investment director at fund:AI, underscores the significance of this investment. “The gaming sector has been an early adopter of AI which has made a huge impact on graphical and functionality development. The ability for AI to support game designers and programmers is increasing exponentially, with new tools and applications assisting developers with their workflow.”
He also highlights the promising growth opportunities stemming from the impending hardware launches by tech giants Meta and Apple. This aligns well with Fallen Planet Studios’ aspirations to capitalize on these developments.
Legal facilitation of the deal
The successful investment deal was made possible with the support of legal counsel from Daniel Hayhurst of Brabners and Will Carlyle of Sheridans. Their expertise ensured a smooth transaction, reinforcing the confidence in this collaboration.
Next-generation VR titles on the horizon
Looking ahead, Fallen Planet Studios is gearing up for the release of new VR game titles in early 2024. This eagerly anticipated launch is expected to redefine the immersive gaming space, thanks to the infusion of AI and the studio’s dedication to innovation.
The £500,000 investment from fund:AI into Fallen Planet Studios heralds a new era of AI-driven innovation in the VR gaming industry. With a proven track record of success and a commitment to staying at the forefront of technological advancements, Fallen Planet Studios is poised to deliver exceptional gaming experiences to the global XR community. As AI continues to shape the gaming world, the collaborative efforts of both the studio and fund:AI promise to bring about exciting developments in the world of Virtual Reality gaming.
