Immersive Tech, a Victory Square Technologies portfolio company, has signed a letter of intent with Autobahn Indoor Speedway, an operator of indoor go-karting.
According to the letter of intent, Autobahn Indoor Speedway will initially purchase one unit of Immersive Tech's virtual reality attraction, UNCONTAINED, with the option to purchase 10 more units for the remaining Autobahn Indoor Speedway locations in the United States.
Autobahn Indoor Speedway is one of the largest chains of indoor go-karting operators in North America. It features high-performance Italian-made racing karts, indoor and outdoor attractions, food and beverage offerings all within a family fun, safe and friendly environment.
UNCONTAINED will be the latest addition to the company's lineup of attractions.
The multiplayer VR solution offers a hyper-immersive experience for up to 6-players and provides an array of physical effects packaged as a cost-effective plug-and-play VR solution.
Tim Bieber, Immersive Tech CEO, commented in a press release,
“The UNCONTAINED attraction is a next-level immersive experience that can complement any existing entertainment center, theme park, resort, state fair, theatre, mall, or limitless other businesses desiring cutting-edge consumer experiences.”
“Our standalone attraction comes in a box and stays in a box. It includes everything to start operating immediately, with no operational disruption, and can be launched indoors or outdoors,” he added.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed for fast-track growth.
Its portfolio company Immersive Tech is an industry leader in blending amusement park engineering and video game development.
Victory Square Technologies (VST) is steady, trading at C$0.90 per share as of 1:43 pm ET.