Investment for the world conquest of an air guitar game

6.2.2007

Finnish Industry Investment Ltd and a private investor have invested a total of EUR 130.000 to Virtual Air Guitar Company Oy, a console game developer.

The technology company uses new interface technologies to provide new social experiences. The first product is the Virtual Air Guitar console game, where the player plays air guitar and controls the music with the help of computer vision technology.

Virtual Air Guitar Company promises its customers instant rockstar epxeriences: the game will help you release your inner rockstar, be idolized, and have fun. This console game is social and non-violent, and does not require a real guitar or any musical skills.

"With this investment, we aim to develop a prototype of the game, and through that a global distribution deal with an international publisher," says Aki Kanerva, Managing Director of Virtual Air Guitar Company.

"This is an opportunity to build a software product based on the application of high technology for the global consumer market. The new product concept is refreshingly different, which is an excellent competitive advantage," explains Pirjo Kekäläinen-Torvinen, investor and Chairwoman of the Board of Kalliohanka Oy. The private investor also recognizes the business incubator Technopolis Ventures, whose mentoring connections helped connect the company and herself: "Connections to more experienced entrepreneurs and sources of financing are very beneficial for start-ups."

"There are more and more computer vision based games for simulating tennis, basketball etc. The console game market is growing, and equals the music industry as measured in euros," comments Investment Director Antti Kummu on Finnish Industry Investment's interest in the air guitar company.


Virtual Air Guitar Company Oy
, based in Espoo, Finland, has been founded in 2006, and currently employs seven people. www.virtualairguitar.com

Finnish Industry Investment Ltd is a government-owned investment company. The company invests the proceeds accrued from the privatisation of state-owned companies in promoting the growth and internationalisation of Finnish businesses. Finnish Industry Investment invests together with private investors. The investments are spread widely across the country and divided among many sectors. FII´s investments and investment commitments amount to some EUR 360 million. www.teollisuussijoitus.fi


Further information:

Aki Kanerva, Managing Director, Virtual Air Guitar Company Oy
tel. +357 207 490 491, aki AT virtualairguitar.com

Pirjo Kekäläinen-Torvinen, investor
tel. +358 400 216 700, pirjo.kekalainen-torvinen AT kolumbus.fi

Antti Kummu, Investment Director, Finnish Industry Investment Ltd
tel. +358 50 432 4486, antti.kummu AT industryinvestment.com