nDreams

nDreams, a UK-based VR game developer, is known for the development of its award winning Far Cry VR, Phantom: Covert Ops and Fracked VR game titles. In November 2023, the company was acquired by Aonic Group, a holding company, for USD 110 million as part of its strategy to strengthen its presence in the VR/AR games market.

nDreams’ in-house publishing team consisted of industry veterans who previously worked at companies such as SEGA, Ubisoft and WB Games. The company focused on creating VR games since 2013 and in January 2022, the company launched ‘nDreams Studio Elevation’ which focused on the creation of AAA and core VR titles. In July 2021, the company opened its second VR game development studio titled ‘nDreams Studio Orbital’ which focused on creating enhanced social experiences in live, cooperative gaming. In September 2024, the company announced potential layoffs affecting up to 17.5% of its workforce due to a challenging VR games market.

The company’s latest game announcement in August 2024 was ‘Vendetta Forever’. Other game titles launched included PowerWash Simulator VR (November 2023, USD 25) available on Meta Quest devices, Synapse (July 2023, USD 35), a first-person shooter title which combines gunplay and telekinetic abilities, available on the PSVR 2. Further, the company previously launched Little Cities (May 2022) developed by the indie games studio Purple Yonder, which made it the first title released as part of the company’s USD 2 million creator fund (launched in February 2021). The company acquired Near Light (December 2022), a bespoke UK-based AR development company, which brought in more industry veterans into the company to help leverage their expertise in the AR space.

Key customers and partnerships

The company has worked with a wide variety of video game brands and tech-based companies such as Microsoft, AMD, Nintendo, Playstation, and Ubisoft.As of January 2024, the company had published 15 VR game titles priced between USD 8–35 on multiple platforms such as Steam, the Quest Store and the PlayStation Store. Genres included shooter, adventure, first person interactive story and brawler games.

Funding and financials

In March 2022, the company received a USD 35 million investment from the Aonic Group, which granted the latter a minority stake in the company at the time. Funds were earmarked to bolster nDreams' studio and VR game development efforts.