$502m: Improbable UK ‘Unicorn’
This is the amount of fresh growth funding secured by
Cambridge-based virtual reality start-up, Improbable. The firm’s technology is typically used in gaming design but founders Herman Narula and Rob Whitehead have much wider applications in mind in future.
The new cash comes from Japan’s Softbank, which is not taking a controlling interest (more than 50%). This implies the rest of the business is worth more than $502m, qualifying Improbable as a UK ‘Unicorn’ – a start-up innovation business worth in excess of $1bn. Softbank was behind the £24.3bn takeover of former FTSE 100 UK chip design champion ARM in 2016.
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