VR game developer Fast Travel Games has raised $4 million in a new investment round.

The studio said that the funding will go towards expanding its business operations, which include publishing and developing new IPs for VR platforms.

Handelsbanken Fonder led the investment round. Meanwhile, Industrifonden, Brightly Ventures, Creades, and Inbox Capital also participated.

Since its establishment in 2016, Fast Travel Games has published titles such as Broken Edge while developing games, which include Wraith: The Oblivion – Afterlife and The Curious Tale of the Stolen Pets.

Fast Travel Games CEO Oskar Burman said, “The VR games market continues to grow at a steady pace, and with the introduction of the PS VR2 and the Quest 3 this year, and the Apple Vision Pro around the corner, we’re confident this growth will continue…With this new investment, we’re in a solid position to capitalize on this new exciting gaming frontier.”

The game studio said that it plans to reveal new publishing partnerships in the future.