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Job Simulator studio Owlchemy secures $5 million investment - MCV

Job Simulator studio Owlchemy secures $5 million investment

VR-focused dev backed by companies including HTC and The VR Fund, and will use funding to grow, create original IP and build virtual reality technology
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Owlchemy Labs, the developer behind early VR hit Job Simulator, has raised $5 in Series A investment funding.

Among the studio’s backers are Vive maker HTC and virtual reality organisation The VR Fund, as well as Colopl Next, Capital Factory and other tech investors. Technology firm Qualcomm led the round and provided the majority of the funding.

Owlchemy said it would use the money to grow its content development teams, work on original IP for virtual reality and build technology “that pushes the limits of VR across multiple platforms”.

The studio was founded in 2010 and released Job Simulator for HTC Vive and Oculus Rift earlier this year, with a PlayStation VR launch set for release alongside the headset this autumn.

It recently signed a licensing deal with Adult Swim to create a VR spin-off to animated TV show Rick and Morty. Like Job Simulator, the title will run on the dev’s ‘Owlchemy VR’ platform, which is also be utilised in unannounced projects.

“VR has been a deep passion of ours for many years and being at the forefront of designing new virtual worlds is truly a dream for our whole team,” said CEO Alex Schwartz.

“We’ve solved some of the toughest design and development challenges in this new medium, and with this investment we’ll apply these lessons to a portfolio of full games.”

UPDATE: This article was updated to clarify that Qualcomm led the funding and provided the majority of the investment.

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