Softbank Acquisitions – Cambridge graduates’ tech firm raises $500m

Softbank Acquisitions – Cambridge graduates’ tech firm raises $500m

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A five-year old British virtual reality startup, co-founded by Cambridge computer science graduates, has been valued at more than $1bn after raising $502m (£390m) from Japan’s SoftBank.

The investment, in London-based firm Improbable, is thought to be the largest ever investment made in a fledgling European tech firm.

Improbable uses cloud-based computing to create virtual worlds for use in games as well as large-scale simulations of the real world.

The business was co-founded in 2012 by Herman Narula, 29, and Rob Whitehead, 26, who met while studying computer science at Cambridge University, and Peter Lipka, 28, an Imperial College graduate who worked at Goldman Sachs prior to launching Improbable.

Read more on the Guardian

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