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Giulia Simonelli 

Virtual reality innovators secure seed funding


How EEN uses its access-to-finance matchmaking skills
 
London-based Mativision creates spectacular virtual reality experiences for global clients such as Mercedes-Benz, MT, Virgin and Vodafone. It uses the latest smart phone technology enhanced by viewer-controlled 360-degree cameras to capture events and performances.
 
When the company needed private capital investment to attract high-calibre software engineers skilled in graphics and image processing technology and to step up its marketing efforts, City contacts put them in touch with EEN London.
 

Equity finance

 
The EEN team, who had pioneered an access-to-finance service for ambitious, fast-growing businesses, used their networks to introduce Mativision to a syndicate of prospective investors, all high net worth individuals.
 
EEN also provided valuable advice in structuring the term sheet for the investors and the shareholders’ agreement as part of the equity finance. This simplified the process of negotiation.
 

Live virtual reality

 
Immediately after the investment, Mativision secured four new contracts worth £133,500 for high-profile projects such as the launch of the Samsung S7 mobile featuring the band Years & Years and a fashion show for Coach in New York, both in February 2016.
 
They also recorded a ‘world first’ two months later, with a live virtual reality stream of an operation to remove a cancerous tumour.
 
Students equipped with VR headsets anywhere in the world were able to watch the procedure at the Royal London Hospital as though they were in the theatre themselves. 
 

FILED UNDER:
FUNDING  HORIZON 2020