Chinese developer Mirage raises $1.5 million to take on VR gaming

While mobile gaming continues to grow in China at a rapid pace, some developers are looking to what’s next in an effort to stand out in the crowded market.

Mirage Interactive, a game studio based in Beijing, has raised $1.5 million in funding to push forward into virtual reality development. SongHe Capital and mobile-game developer Wistone led the investment round. The company just launched its first-person ocean-traversing VR game Heroes of the Seven Seas for Oculus Rift, HTC Vive, and Samsung Gear VR worldwide. With this latest influx of cash, Mirage is aiming to bring even more original games to a VR market that analysts predict could generate $40 million in spending by 2020.