VR-1 Receives Nearly $14 Million in Funding

VR-1, an online gaming development house with products such as Fighter Ace on Microsoft's Internet Gaming Zone, has received $13.6 million in funding from Madison Securities, based in Chicago. The money will go toward paying off debt, as well as toward development and production on new products.

While Fighter Ace is currently VR-1's only publicly available online title at this time, a similar product is being developed for two of the largest Internet Service Providers in South Korea, with other deals in the works. Other domestic titles currently being worked on include UltraCorps, The S.A.R.A.C. Project, and Nomads of Klanth. UltraCorps, a space conquest game on a galactic scale, is in beta testing and is perhaps nearest to completion.