A London-based virtual reality startup is in talks for fresh funding that could value it at over £400m.
Improbable – which last year picked up $20m (£13.4m) from Silicon Valley investor Andreessen Horowitz – is locked in talks with potential backers on both sides of the Atlantic, according to Sky News. Its last funding round reportedly valued the company at over $100m.
Improbable says that by simulating worlds virtually it can create a model of real-life situations, from how the housing market works to the way the Internet of Things functions.
The company has said its Spatial operating system has a variety of uses, from economics and finance, to town planning and transport.
Investment bank Allen & Co is thought to be assisting the company with fundraising after hosting Improbable at an event earlier this year.
Improbable was founded just three years ago by Cambridge computer science graduate Herman Narula.