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Virtually Visiting

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We bring 360 tours and experiences to the world via our digital platform

105%
 - 
Funded 13 Jun 2022
£180,000 target
£191,744 from 109 investors
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Business overview

Location Uppingham, United Kingdom
Social media
Website www.virtuallyvisiting.com
Sectors Travel, Leisure & Sport Digital Mixed B2B/B2C
Company number 12617723
Incorporation date 22 May 2020
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Investment summary

Type Equity
Valuation (pre-money) £1.2M
Equity offered 13.43%
Tax relief

EIS

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Business highlights

  • New 360 video travel platform designed, built and launched
  • Exclusive 360 filming contracts in all 7 continents
  • Hundreds of Virtual Passport holders signed up since launch
  • An experienced team of travel and technology professionals
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Key features

  • Secondary Market
  • Nominee investment min. £12.80 +
  • Direct investment min. £10,000.00 +

Idea

Introduction

Virtually Visiting is removing the traditional barriers to travel by making it accessible to all, anywhere, any time. Anyone with an internet connection can experience their dream destination from the comfort of their own home in HD 360 video.
Viewed through a VR headset, desktop or laptop, with smartphone and tablet access coming soon, our experiences are never far from your fingertips, all on our new Virtual Travel Platform at virtuallyvisiting.com.

We are passionate about supporting the travel industry to ensure they get fair value for their professional knowledge, which is why we have implemented a paid model for consumers rather than offering free products, thus establishing a link between knowledge and fair value for digital travel content.

The travel and VR market is yet to be fully exploited and our market research shows that 66% of people are prepared to pay to take a travel related virtual tour.

Now, everyone can leap into another destination and explore with Virtually Visiting.

Substantial accomplishments to date

Since our first raise we have been working hard to deliver on our objectives. To date we have:

◉ Designed, built and launched a brand new 360 VR Travel Platform

◉ Signed exclusive partnerships with multiple companies from across the world, in all 7 continents.

◉ Designed, built and launched a new website.

◉ Completed market research in the UK, USA and India which showed significant demand for VR travel content and that people were prepared to pay for such content. See attached survey information for more details.

◉ Started collaboration with with Visit Britain

◉ Captured demonstration tours for the Archeological Survey of India

◉ Entered into negotiations with South African National Parks authority

◉ Signed up over 300 Virtual Passport holders

◉ Started collaboration with AdventureLAB of Denmark, bringing training to suppliers on how to capture their tours in VR.

Monetisation strategy

Virtually Visiting allows tour companies to gain fair value for their digital content and monetise customers at a much earlier stage of the sales pipeline than was previously possible.
They do this by capturing specific versions of their tours and experiences in 360 video and selling them on the Virtually Visiting Platform to consumers.

Users are able to purchase 360 video tours and experiences on a pay per video basis and we are planning on offering a subscription in the near future.

Our research has shown that not only do people want to watch this type of content but they are also prepared to pay, with the majority willing to pay between $2.5 - $8 per video, and some willing to pay as much as $15 or more.Reasons for wanting this type of content include the inability to travel for physical, financial or political reasons, looking to explore in 360 or planning a real world trip.

We are also planning to launch a dynamic digital travel brochure in the future. Using data from the platform we will deliver tailored advertorials for real world travel based on users interests and usage of the system.

Use of proceeds

With our platform now live we need to establish our consumer user base and demonstrate the commercial possibilities of our platform. We will do this by driving new user signups and purchases, thus demonstrating the market opportunity.

58% of the funds are planned to be spent on the marketing strategy to drive new users and build brand awareness through advertising and PR, continuing to engage and grow our audience of people interested in exploring the world through immersive 360 video.

9% will be spent on the continued work to capture new exciting 360 Virtual Tours and Experiences from around the world by engaging with new suppliers and companies.

13% is planned to be used for administration and business function.

12% will be used to continue developing the platform releasing new functions and features and continue to improve the user experience as well as continue to explore the latest technologies to capture and recreate real world locations in VR.

8% New equipment will be acquired to assist with some of the filming projects.

Key Information

The company has the following outstanding loans:

£15,540. This loan has no repayment date and is accruing no interest.

The funds raised from this investment round will not be used to repay these loans.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

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Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £1,228,682

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

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Equity Offered

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Nominee investment

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Custodian

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Secondary market

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Direct investment

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

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