Close

Jump to:

  • Navigation
  • Content
  • Footer
meetspaceVR hero image

meetspaceVR

Follow

meetspaceVR: an urban theme park that brings leading social, free-roam VR experiences all under one roof.

122%
 - 
Funded 1 Nov 2022
£600,000 target
£734,740 from 314 investors
More
Less

Business overview

Location Woking, United Kingdom
Social media
Website www.meetspacevr.co.uk
Sectors Entertainment Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 11168601
Incorporation date 25 Jan 2018
More
Less

Investment summary

Type Equity
Valuation (pre-money) £4.5M
Equity offered 14.13%
Share price £2.5
Tax relief

EIS

Co investor Adjuvo

Adjuvo is an exclusive syndicate for sophisticated and experienced investors.

More
Less

Business highlights

  • Five venues open from October 2022
  • £1.3m revenue in the last 12 months*
  • Over 87,000 players to date & an NPS score of 85
  • Over 70% of players from word of mouth
More
Less

Key features

  • Secondary Market
  • Seedrs nominee min. £10.00 +
  • Direct investment min. £20,000.00 +
  • Idea
  • Key Information
  • Investor Perks
  • Team
  • Updates
  • Investors 314
  • Discussion
  • Documents

Idea

Introduction

Our mission is to create a national distribution channel for social, free roam, untethered, arena scale virtual reality experiences. Think IMAX for VR gaming. meetspaceVR provides exclusive access to games, space and the freedom that makes VR gaming social, accessible and above all addictively playable.

Our quality of gameplay and customer service drives repeat play. VR is only just becoming a category of thing to do yet we have blown over 87,000 minds.

meetspaceVR is at the confluence of trends in the location-based, competitive socialising market:

1. Social virtual reality experiences, where friends, family and colleagues can play together, requires space and is rarely possible at home.

2. Global owners of IP are looking for ways of distributing their own immersive experiences to their fans.

3. vSports has more of a calorie count than traditional eSports and is already becoming a natural evolution to the global genre.

Substantial accomplishments to date

- Over 87K players since launch.

- Fifth store opened in October 2022.

- Replay rate 39% of people that played in April 2022 had played before

- 70% of bookings come from word of mouth

- Core business reached cash flow positive by Q4 2021 (discounting the costs of launching new sites)*

- NPS of 85

- Over £1.3m in net revenues over the last 12 months*

*based on unaudited management accounts

Monetisation strategy

Our core (B2C) players are adrenaline fuelled men and women between the ages of 18 and 45 that love unique and social experiences that help provide escapism from the every day and banish joylessness. Sessions of up to 8 people are pre-booked. 70% of bookings come from word of mouth referrals.

Our private hire / corprorate (B2B) players accounts for 25% of revenues and is generated with little direct marketing.

Over the years we have added other social VR experiences to allow for different genres of games that appeal to a wider age demographic. This has also allowed us to entertain larger private hire groups.

Use of proceeds

Proceeds of this raise will be used to standardise experiences across all current locations (Nottingham, Wembley and Birmingham) to backpack-less technology. We have this new technology installed in our latest venue in Thatcham, Reading and the feeling of freedom is liberating and the cost of maintenance greatly reduced.

We will also be rolling out more venues across the UK.

- Upgrade of existing sites - 20%.

- Launch more sites - 80%.

Any funds over and above the initial ask will fund faster expansion of sites across the UK.

Key Information

Share Capital

The Company is in the process of creating a Share Option Scheme to allocate to the Founding Team. This will be implemented prior to closing this funding round and will represent 20% of the fully diluted share capital of the Company (5% to each of the Co-Founders). This has been factored into the pre-money valuation.

Majority Investor Owned

Following the creation of this Share Option Scheme, the Company will remain majority investor owned, with the largest stake being held by the investor syndicate, Adjuvo, the lead investor in this round.

Material Debt

The company has the following outstanding loans:
1. £38,802.68 Bounce Back Loan at an interest rate of 2.5% per annum. The loan is to be repaid on 14th July 2021.
2. £74,438.67 PayPal Working Capital Loan at an interest rate of 10% per annum. The loan is to be repaid on 1st Oct 2023.
3. £22,061.82 COT Working Capital Loan at an interest rate of 9.9% per annum. The loan is to be repaid on 31st Dec 2023.

The funds raised from this investment round will not be used to repay these loans.

Investor Perks

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

Open an account to get access to the team members of meetspaceVR

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Share on:

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £4,462,025

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

Find out more

Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

Find out more

Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

Find out more

Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Warning

You are following a link outside of www.seedrs.com.

None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

ContinueCancel