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Advance Capital is pleased to announce the successful completion of a Series A investment round for FIBRUM, a Russian developer of mobile virtual reality applications. The investment round was led by venture funds FunCubator and NP Capital.

FIBRUM has developed a portfolio of more than 36 VR applications with over 20 million total downloads, as well as its own virtual reality headset, Fibrum Pro, and DESIRIUM — a VR entertainment platform unique to the market that serves as a content distribution hub. DESIRIUM enables users to experience a wide range of immersive content within a single application, spanning multiple genres and interactive scenarios. Within the project, FIBRUM acts as a developer, publisher, and distributor of VR content, while a significant portion of experiences is created by third-party studios.

The funds raised will be primarily allocated to R&D and further development of the DESIRIUM platform, as well as to marketing initiatives and programs aimed at attracting content developers.

FunCubator is an investment arm of FunCorp, an international entertainment corporation founded in 2004, specializing in FunTech investments. The fund’s portfolio includes startups in VR, AR, esports, and entertainment content production.

NP Capital is a venture capital firm, one of whose funds focuses on gaming-based services — companies whose products are closely tied to the gaming industry.

Ilya Flaks, Founder and Chief Executive Officer at FIBRUM:

“We believe that the way content is delivered and consumed in virtual reality will undergo significant changes in the near future. Our many years of experience in VR allowed us to create DESIRIUM as a unified ecosystem that delivers a fundamentally new user experience in virtual reality.”

Almas Abulkhairov, Partner at FunCubator:

“We continue to expand our investment portfolio in VR. DESIRIUM attracted us as a closed-loop ecosystem that already has all key components in place at launch — content, a distribution channel, and end users.”

Armen Mikaelyan, Investment Director at NP Capital:

“We are convinced that the emergence of a new technological paradigm is significantly changing people’s lifestyles. An increasing amount of free time is being redirected toward entertainment. The FIBRUM team has identified a strong model in one of the most promising segments of entertainment — virtual reality.”

Dmitry Kasyanenko, Partner and Managing Director at Advance Capital:

“The investment round for FIBRUM confirms strong investor interest in high-potential venture projects in Russia and highlights Advance Capital’s growing expertise in this segment. This deal is significant for both the Russian and global virtual reality markets.”

Artur Shubaev, Vice President at Advance Capital:

“The fundraising process for FIBRUM was challenging, as virtual and augmented reality were still perceived by many investors as being at the peak of inflated expectations. Our task was to demonstrate that this peak had passed and that the market was entering a phase of productive growth. We are pleased that investors shared this view.”

Advance Capital acted as the exclusive financial advisor to FIBRUM.

The deal value is not disclosed.