Melbourne-based Zero Latency, which has developed a unique way to allow groups of friends to roam freely together in virtual reality, has closed a $7 million funding round aimed at helping it capitalise on rave reviews internationally.
The funding was raised from existing backer Carthona Capital and clients of Bell Potter on a pre-money valuation of $80 million, and will be used to set up new sites for its games in both the United States and Japan.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
