Bonus for subscribers through FundedByMe:
Everyone who subscribes to at least one lot (SEK 2,400) will receive a VREX gift certificate for two people (worth about SEK 900).
Everyone who subscribes to at least ten lots (SEK 24,000) will receive a Supercombo gift card for up to 8 people (worth approximately SEK 3,600) and will be invited to the opening ceremony.
The problem this product solves
The interest in Virtual Reality (VR) exploded around 2015 and has just continued to increase since then. The problem is that most people still can not afford the relatively pricey technology and products in order to create these exciting experiences at home. The supply of public VR centers is generally low in Sweden, making it hard for people who wants to try it out. For anyone curious of games involving the whole body and playing together with teammates, there is no opportunity at all in Sweden today.
How the product solves it
VREX is a full-scale experience center for interactive VR games. Here, the visitor physically interacts with its team in an area of 300m², operating inside a virtual landscape that surpasses everything you ever experienced before. VREX takes the newest technology to Sweden and together with advanced body tracking, temperature and weather stimuli, it allow gamers to set out for breathtaking realistic adventures in a new world – all at an affordable price. We will be centrally located in Bromma opposite our Bodyflight partner. Customers will quickly and easily book their experience on vrex.se.
VREX offers a captivating VR experience defying all belief. Our CO-OP Multiplayer game presents advanced body tracking allowing more players to see and interact with each other in real time within the game. Small built in delays in the technical platform allow participants to even throw objects to each other. To make it even more striking, we provide a number of machines that generate rain, wind, heat and vibrations – creating a full-blown 4D experience. At VREX, up to 10 people are able to play simultaneously on an area of 300 m² compared to versions with a considerably smaller area.
Product use cases
If you want to try out a VR experience, VREX is the obvious choice. Whether it is a business company that needs to work on its team spirit or a group of friends who wants to experience something fun together. Kick offs, business events, birthday celebrations, general activation or an amazing experience – they are all good reasons to visit the VREX VR Center.
Micha Velasco Ceo
Micha works as CEO at VREX and has a Master of Laws. He has worked in the listings department at AktieTorget which contributes to his great knowledge in finance and listings. He was one of the founders of Bodyflight Stockholm AB - The first vertical wind tunnel in Sweden.
Markus Dahlström Chairman of the Board
M.Sc. In Business & Economics from Stockholm/ Örebro University. Financial Advisor and board member in several Start-ups in Sweden. Primarily Tech and Life-Science including Vironova, NEW Innovation Management, Alnarp Cleanwater Technology and Nordic Match. Markus held a number of senior positions within SEB, among them product owner for FX globally ... See more
M.Sc. In Business & Economics from Stockholm/ Örebro University. Financial Advisor and board member in several Start-ups in Sweden. Primarily Tech and Life-Science including Vironova, NEW Innovation Management, Alnarp Cleanwater Technology and Nordic Match. Markus held a number of senior positions within SEB, among them product owner for FX globally 2012-2016. See less
Martin Dahl Organisation and construction
Martin is one of the founders of Bodyflight Stockholm AB. He has a back ground as an entrepreneur and consultant. In VREX Martin will be responsible of construction, organisation and staff.
Studies shows that the VR market will double itself multiple times until 2020. The result will be a market value of several hundred billion SEK. VR has a bright future, being a constantly developing market – just like the gaming world.As far as the market for VR centers in Sweden is concerned, we see a great potential. Our technology is far better than the one you find on the market today and we are constantly evolving our technology.
When it comes to advanced VR solutions today, there are just a few in commercial use besides VREX.
- The Void: The most famous solution. They collaborate with Madame Tussaud in New York. They provide a Ghost Buster course as an option to the entrance fee (USD 34 without Ghostbuster vs USD 59 with Ghostbuster).
Currently in Sweden there are no equally advanced solutions for VR centers as the one VREX can offer.
Unique differentiator from competitors
None of our competitors offers the following:
- Full Body Tracking on a large area.
- Multiplayer option – capacity of 10 people at the same time.
- Multiple games (VREX can offer two different games/experiences and more are to be launched in 2018).
- A defined plan to expand in Sweden and internationally. This makes us competitive.
- A supplier at the forefront of VR technology. Giving us a head start on the market.
Company revenue streams
The revenue is based on a retail price of SEK 495 including VAT (SEK 396 excluding VAT) per person and game. On average, we expect our two courses to be used 5 hours a day and that every hour equals 7.5 paying customers per course.
VREX opening will be preceded by a powerful marketing campaign. In addition, VREX will associate with other businesses selling experiences in order to increase sales through different channels. The promotion will focus on social media and radio advertising. VREX will additionally work with influencers to reach a wider range of potential customers. The founders have gathered a solid marketing experience from their work promoting Bodyflight.
VREX was founded and the project commenced.
January- Meetings with technical platform suppliers and game developers.
Mars- Investigated potential premises and developed the business model.
July- The final concept was developed and premises were found.
September- Anchor investors entered the company.
October- Building application submitted. Planning of reconstruction.
Next key objectives
November- Reconstruction of the premises completed.
December- Installation of the technical platform. All the interior in place.
January- Opening of the VR center.
Expand the range of games/experiences.
Prepare the opening of three new centers.
List VREX on an MTF list for continued expansion (scheduled within 24 months from today's date).
Begin the opening of another five new centers.
Five anchor investors entered the company early on and will also participate in the new share issue at FundedByMe. In addition to own capital, VREX is funded by loans from ALMI and banks.
The founders of VREX have also founded, and are running, Bodyflight Stockholm AB, which is Sweden's first vertical wind tunnel. Bodyflight is already an established concept and includes, among other things, an experience on the Live it experience website. The experience is immensely appreciated by the visitors which reflects in the reviews found on several different web pages.
VREX will be located across the street from Bodyflight, making it easy for the businesses to collaborate. Joint marketing can benefit both companies. Being located near each other makes it possible to coordinate events to obtain an even more appreciated experience.
Use of funds
The total need of financing is 5,5 million SEK including costs of planning, setting up the venue, construction, drawings and extra capital for the start and initial running costs until the company is cash flow positive.
The company will work for a listing on an MTF in 2019. Also will the company work for dividends but will focus on growth.
- The cost for establishing the technology will fall over time. This could lead to more players on the market with similar experiences like VREX. For this reason, we aim to be at the forefront, no matter what route the technology development takes.
- The customer does not realize the difference between our VR center and other existing VR experiences. We will counter this by reaching out with a clear message in our marketing.