Yesterday evening, Motorsport Games dropped the news of a new investor behind the company, which we now know as the VR tech giant, Pimax, who has invested $2.5M into the company, allowing it to continue operations.
As stated in the original announcement, Motorsport Games has re-filed with the U.S. Securities and Exchange Commission. The details of the future application are still thin on the ground, but what is clear is that a $2.5 million investment from Pimax will bolster Motorsport Games' future.
Whilst the number might seem staggering to you and me, in the world of gaming, $2.5M is not a huge figure for an investment. As a reference, Pimax itself received a staggering ¥CN100 million (~$13.6 million USD) in an extension to its Series C funding. Credit: roadtovr
Pimax's Dream Air. Image: Pimax
Motorsport Games, the parent company that also owns Le Mans Ultimate's developer Studio 397, has been looking for an investor or outright buyer since the beginning of 2024. As the company tried to recover from past decisions that had seen it struggle financially, this Pimax deal came up. The worry about going under seems to be out the window for now, as a VR hardware manufacturer emerged as an investor in Motorsport Games to the tune of $2.5M.
MSG CEO Stephen Hood is happy about this, naturally: "That is what we were looking for. There were a lot of snake oil salesmen out there who wanted to buy the company to close it or something similar. But for us, Pimax is really exciting because we found an investor in a similar space."
Hood also pointed out that VR in LMU will not be exclusive to Pimax hardware—which would otherwise rule out a big chunk of VR racers—and that the sim should benefit from this investment even for non-VR players: "Now we have the money to easily keep going for a year even if we didn't do anything. There is still a lot to do, of course, but we can do it without looking over our shoulders and wondering how we make payments."
Hood says the next update to LMU is set for May, and the 1.0 release will come "when it's ready. "
What do you make of the news of Pimax and Motorsport Games cooperating? Let us know in the comments below!
As stated in the original announcement, Motorsport Games has re-filed with the U.S. Securities and Exchange Commission. The details of the future application are still thin on the ground, but what is clear is that a $2.5 million investment from Pimax will bolster Motorsport Games' future.
Whilst the number might seem staggering to you and me, in the world of gaming, $2.5M is not a huge figure for an investment. As a reference, Pimax itself received a staggering ¥CN100 million (~$13.6 million USD) in an extension to its Series C funding. Credit: roadtovr
Pimax's Dream Air. Image: Pimax
Motorsport Games, the parent company that also owns Le Mans Ultimate's developer Studio 397, has been looking for an investor or outright buyer since the beginning of 2024. As the company tried to recover from past decisions that had seen it struggle financially, this Pimax deal came up. The worry about going under seems to be out the window for now, as a VR hardware manufacturer emerged as an investor in Motorsport Games to the tune of $2.5M.
MSG CEO Stephen Hood is happy about this, naturally: "That is what we were looking for. There were a lot of snake oil salesmen out there who wanted to buy the company to close it or something similar. But for us, Pimax is really exciting because we found an investor in a similar space."
"Want to influence VR sim racing"
For VR sim racers, this should be excellent news regarding Le Mans Ultimate's VR progress. "If you want to influence VR sim racing, why not do it together?" Hood asks rhetorically. We will have insight into what Pimax is planning and can give them feedback, and vice versa. They cannot tell us what to do, though."Hood also pointed out that VR in LMU will not be exclusive to Pimax hardware—which would otherwise rule out a big chunk of VR racers—and that the sim should benefit from this investment even for non-VR players: "Now we have the money to easily keep going for a year even if we didn't do anything. There is still a lot to do, of course, but we can do it without looking over our shoulders and wondering how we make payments."
Hood says the next update to LMU is set for May, and the 1.0 release will come "when it's ready. "
What do you make of the news of Pimax and Motorsport Games cooperating? Let us know in the comments below!
