Aldin Dynamics secures $1M in a seed investment round led by Crowberry Capital.
Aldin Dynamics, a Reykjavik, Iceland indie studio developing VR technology and games, announced securing a $1M investment in a seed funding round.
The money comes from Icelandic venture company Crowberry Capital, with participation by angel fund Investa and the Icelandic Technology Development Fund and will be used to produce new consumer VR entertainment products and to further develop the company’s technologies.
In relation to the investment round, Helga Valfells of Crowberry Capital will be joining the company's board of directors.
Aldin Dynamics, founded in 2013 by Hrafn Thorri Thórisson and Gunnar Steinn Valgardsson, developed tech dedicated to virtual reality, including Ghostline XR, an analytics tools that enable VR developers to create better and more targeted content for consumers, and Telepath, a locomotion system as a more immersive substitute for teleporting, used by over 90% of users in Waltz of the Wizard given an option of alternative VR movement systems (the two VR standards, teleporting & smooth locomotion).
The company also published titles including Trial of the Rift Drifter, Asunder and Waltz of the Wizard. Waltz of the Wizard, launched in May 2016, is one of the top rated VR games on Steam, with more than 250,000 downloads.
Prior to this round, Aldin receieved about $500k in capital investment.