The Future Group (TFG), a Norway-based provider of interactive mixed reality (IMR) technology, has raised $20m in series C financing from backers including oil and gas services and equipment provider Aker.
More than 25 other investors, including investment holding company Ferd, participated in the round. The proceeds will be used to launch a 3D visual effects platform called Frontier Interactive Mixed Reality and a global IMR game show slated to be marketed to television networks in early 2017.
TFG was co-founded in 2013 by Bård Anders Kasin, a former Warner Brothers technical director whose team created the visual effects for the Matrix trilogy of blockbusters, and entrepreneur Jens Petter Høili.
Høili, chairman of TFG, said: “As we prepare to enter 2017, we opened this round of funding to enable our final push into IMR, with both a content development platform in Frontier and as co-developer of a new game show that will redefine what is possible on network primetime TV.
“The response from new and existing investors seeking to participate in this new round was both gratifying and exhilarating as we prepare to show the world our complete strategy, vision and most importantly – content.”
The round increased Future Group’s overall funding to $42m. It had raised $8.5m as of April 2015, according to VentureBeat, before video production technology provider Ross Video made a seven-figure investment as part of a series B round in September 2015.