British virtual reality music startup MelodyVR is preparing to launch its app, which will provide a catalogue of live performances filmed for VR headsets. Ahead of that the startup, whose parent company EVR Holdings is publicly listed on the UK’s AIM exchange – has raised £3.4m through a new placing of shares. CEO Anthony Matchett said the placement “demonstrates the support and confidence of both new and existing institutional shareholders” in the company’s plans. “The additional capital raised will enable EVR and MelodyVR to accelerate our strategic expansion into new territories and to further increase the size of our virtual reality content library prior to the commercial launch of our VR music platform later this year.” A recent financial filing by the company revealed that it has already sealed an exclusive licensing deal with one major label, including a year’s exclusivity on some VR content filmed with “a well-known label artist with a recent top three album release”. MelodyVR says its overall catalogue now includes performances by more than 400 artists.
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