Havson Group, a virtual reality entertainment technology startup, has recently closed funding from 500 Startups, a Silicon Valley based venture capital seed fund and accelerator. The company is involved in producing unique VR content and creating VR technology that helps with latency and motion sickness issues that are common. Their content also offers free-roaming technology that allows gamers to move around as needed.
Kailee Ng from 500 Startups explains their interest in the startup, “Having invested in 1,700 Startups in over 60 countries, we’ve built an international platform for startups like Havson to rapidly enter multiple markets at speed. Their business model involves malls paying upfront for rollouts, and generates ongoing profit share. It’s a very capital efficient way to build a global business. Just the kind of business we like!”
A pioneer of VR in southeast Asia, Havson Group has recently been involved in the launch of EXA Outpost, which is a hyper-reality development studio based in Malaysia. Users there can immerse themselves in a first-person experience that allows extreme dimension exploration which resembles laser tag.
Havene Liew and Rayson Wong, the company’s founders, realized their VR solutions could be used to assist business owners who are not in the gaming industry. They believed that VR entertainment experiences could help increase visitors to theme parks, malls, and family entertainment centers. These also happen to be businesses that have been becoming less popular in southeast Asia, as of late.
The company will have an upfront fee for rolling out the VR service. From there, they will receive a share of profits that the services lead to over time. The company plans to expand farther in southeast Asia, as well as China and the United States.
“We have the right talented individuals who are brave for new challenges, we can have the right technology along with the skilled software to create a product on par, we have the resources that can push us far, it is undeniable that Havson has the track record that can create another new height,” said Wong.
Havson is the first company to offer their services in the area, but there are numerous competitors across the globe. Some of these include Zero Latency from Melbourne, which has raised nearly $9 million in seed and venture funding, Dreamscape Immersive from the United States with funding of $11 million, and The Void with gaming centers focusing on VR in New York, Utah, and Dubai.
Seeing VR move into new sectors is always exciting, as it shows that the technology is useful for everyone. By moving into malls and theme parks, Havson Group may be onto something new and exciting. However, it remains to be seen if they will be the company on top when compared to the many competitors from around the globe. No matter what the result, VR is clearly becoming more mainstream as time goes on. That’s something we can all appreciate.