Virtual reality gaming company Fallen Planet Studios has secured a $500,000 investment from Creative UK’s landmark debt fund, managed by River Capital. Fallen Planet will use its newly secured investment to not only develop new games but will utilise AI as a major part of the development process.
As more and more developers utilise generative Al in gaming, Fallen Planet hopes to revolutionise its workflow using the nascent technology. The partnership is also expected to have a positive impact on VR gamers.
Alex Moretti, CEO of Fallen Planet Studios commented, “Fallen Planet Studios is delighted to have received investment from Creative Growth Finance, enabling us to expand on the great work we have done over the past seven years and deliver even more outstanding VR gaming experiences to players worldwide.
“This investment will be used to build out our original Affected IP and is a testament to the hard work and dedication of our team to date. We’re excited for the future as we continue to innovate within the space and strive to be at the forefront of the VR games market,” Moretti added.
News: @FallenPlanetVR receives fund:AI investment
— River Capital (@RiverCapitalUK) September 14, 2023
We're pleased to announce a £500,000 investment into leading Virtual Reality (VR) gaming company Fallen Planet Studios from fund:AI – the North's first dedicated Artificial Intelligence fund.https://t.co/sPpGbRVDTJ pic.twitter.com/fVMA25zfBW
Based in Southport, Merseyside, Fallen Planet Studios specialises in the creation of immersive games and experiences for VR and have built relationships with major platforms like Sony and Meta.
“Our £500,000 investment will help Fallen Planet build on the success of their original IP as they head towards the next release from their franchise, Affected: The Asylum,” said Nick Cavander, investment manager at Creative UK. “This new release will include multi-player functionality, bringing added value and enjoyment for players of this already compelling game narrative.”
In addition to gaining investment from Creative UK, the gaming studio is a member of Creative Enterprise’s Evolve cohort – the investment-readiness programme for screen-based companies.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
