Virtex Bags $3.2M For Creating A Virtual Sports Stadium For An Immersive Experience

May 20, 2022 | 2 minutes read

Madrid-based Virtex raised $3.2 million to provide a virtual stadium experience for all esports games.

Founded in 2020, the Virtex Stadium is a virtual reality experience with a focus primarily on esports. The startup is co-founded by Tim Mcguinness and Christoph Ortlepp with the aim to create a unique virtual sports environment to offer a next-level experience to fans. 

The seed funding round was led by All Iron Ventures, Global Founders Venture, and Graph Ventures alongside other prominent angel investors. Sure Valley Ventures, Mario Götze, and André Schürrle are the angel investors that became part of the investment. However, the closing of the funding round for Virtex Stadium coincided with Meta and Echo VR. 

Sharing the experience of being a part of the esports industry, Tim Mcguinness, Co-founder and CEO shared,

“I’ve been a part of the esports industry for the greater part of the last decade, and during this time I’ve worn many hats, from fan, to player, team owner to on-air talent and production,” 

A virtual reality sports experience

Virtex Stadium offers a real-time engagement with e-sports giving fans a live view of the gameplay in 3D right in the center of the stadium. For a more immersive experience, fans can even jump out of their seats and land directly into the game and follow their favorite sports players in real-time. 

However, the company aims to lift the limitations of the real world to innovate the fan’s sports experience and create unforgettable live shows and events. 

Tim Mcguinness, Co-founder and CEO shared,

“Through my proximity to and passion for the growing industry of over five hundred million fans, I’ve gained a deep understanding of what those passionate about e-sports are looking for from their community. With this funding and our continued growth, the value of this billion-dollar industry will continue to grow at all levels of the ecosystem, as fans and players alike will have new platforms to connect.” 

After partnerships with Meta and Echo VR, the startup will use the fresh funding to expand the platform along with increasing the size of the development team.