Bounce operator raises $20m to expand
The group will accelerate the roll out of its original ping pong concept Bounce beyond London and Chicago and expand darts bar brand Flight Club, which it operates under license in the US.
It will also use the funding to launch Hijingo, a bingo concept described as offering 'highly immersive gameplay and ground-breaking production technology’, in London next spring.
SEV was launched in 2010 by Adam Breeden, the co-founder of bowling chain All Star Lanes.
“This raise enables us to kick start a roll out of our existing brands in both the UK and US, our two key markets, and bring further new concepts to life,” says SEV chief executive Toby Harris, who joined from D&D London last year.
“Innovation remains at the heart of our business as we seek to build a platform of industry leading brands which can travel.’’
Breeden is now looking to develop new concepts, with a view to scaling them internationally.
Acropolis Capital, a family investment office with experience in leisure and hospitality in both Europe and the US, led the funding round.
The number of ‘competitive socialising’ concepts, which usually offer games alongside food and drink, has grown rapidly over the past few years.
In January research by Savills and the Leisure Property Forum found over 50 mini golf, 90 bar and game, 50 virtual reality and 145 escape room experiences on offer across the country.
