Virtual reality start-up Immotion has gone public today with plans to raise £5.75m.

The business, based in Manchester, creates immersive experiences to the ‘out of home’ market including its VR cinema pods.

It has starting trading as IMMO on the AIM market of the London Stock Exchange, placing 57,500,000 shares at 10p.

Immotion was founded by technology and media entrepreneurs Martin Higginson and David Marks.

Martin Higginson (r) and David Marks

Higginson, CEO, said: “In combining award-winning storytelling, CGI production and precise motion synchronisation, Immotion Group can deliver experiences that are not easily replicable in the ‘in home’ market.

"We have already experienced a very positive reaction from consumers, many of whom are trying VR for the first time, and from business partners who see the strong potential for our VR platforms to provide a new revenue opportunity.

“The five star reviews received from our retail customers, along with the early sales of motion platforms and a successful launch experienced by our concession partner, Merlin Entertainments’ Lego Discovery Center in Boston, have given us confidence in the market and our strategy to deliver on the opportunity.

"We believe that this IPO will enable us to build momentum and achieve our goal to build the business across the UK, Europe and USA in what is an exciting, fast growing market.”

Immotion generates revenues three main routes: sales to leisure and entertainment operators; concession partners such a theme parks; and owned and franchised outlets, trading as Immotion VR, located in shopping centres.