20th Jan 2015 08:13
LONDON (Alliance News) - Mercia Technologies PLC Tuesday said it has invested GBP450,000 into nDreams Ltd, a UK virtual reality developer and publisher, the second of an agreed three-tranche investment of a total of GBP1.75 million.
In a statement, Mercia, which invests in technology businesses in the UK, said the additional funds are being provided with the aim of enabling nDreams to expand faster, invest more in research and development, and increase the number of virtual reality projects under development.
Mercia, which has a 30% direct holding in nDreams, first invested in nDreams in March 2014 through its third party funds managed by its wholly owned subsidiary, Mercia Fund Management.
The final instalment is due for payment towards the end of the first quarter.
By Samuel Agini; [email protected]; @samuelagini
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