Stevens & Bolton has advised Electronic Theatre on its £9m Series A fundraising to expand the social gaming venture. Project A led the fundraise, with existing investors Index, Sweet Capital and JamJar Investments participating in the round.
The Series A round follows Electronic Theatre’s successful £2.5m seed round which it closed last year.
Electronic Theatre is a social gaming venture in which teams can battle through adventures in an interactive digital room, known as a LightBox, kitted out with hi-tech equipment, including touch-sensitive walls and motion-tracking headsets. The first outlet opened in London in October 2019, with plans to open up to nine outlets in the UK and at least one in the US, over the next 12 months.
Co-founder Will Dean previously set-up the hugely successful Tough Mudder venture to create a fun exercise experience, ultimately encouraging people to become more physically active. His new venture with Electronic Theatre, set up alongside co-founder David Spindler (also previously involved at Tough Mudder) is a blend of technology and in-person group activity, which will hopefully once again make a positive impact on people’s lives.
Nick Atkins, head of Entrepreneurs at Stevens & Bolton said “Electronic Theatre is a fantastic concept, delivering an interactive hyper-immersive entertainment experience – we’ve tried it ourselves and it was great fun! We again enjoyed supporting Will, David and the Electronic Theatre team on this fundraise and we can’t wait to further support the business as it grows and develops the next generation of Challenges.”
Will Dean commented, “This was our second fundraising round completed with Stevens & Bolton and yet again Nick, Nassar and Krishna did not disappoint. Their commercial awareness, familiarity with working with entrepreneurs and experience of fundraisings and working with VCs made all the difference in delivering this fundraising on time and in a collaborative style”.
The Stevens & Bolton team was led by corporate partner Nick Atkins, supported by Nassar Nassar, Krishna Patel and Lucy Hall.