The trend of “competitive socialising” continues to accelerate, as Formula One simulator bar F1 Arcade has raised £30 million in a round that included investment from McLaren driver Lando Norris.
F1 Arcade opened in St Paul’s in November, and new locations are set to open in Birmingham and the US in the next year. It plans to use the funds to expand further, especially in the US. The business hopes to have 30 global locations by the end of 2027.
The round was led by Liberty Media and Formula One, while McLaren Racing CEO Zak Brown and British Formula One star Norris also took part.
CEO and founder Adam Breeden said: “We are truly excited to be working closely with Liberty Media and Formula One as equity partners as we drive towards global growth.
“Not only do we have an exceptional business model and product, but we are excited about the power of the F1 Arcade brand, its appeal to international audiences as well as potential partners around the world.
“Given the success of the first location and its appeal to such a diverse audience, we believe F1 Arcade has the potential to become one of the most sought-after experiential hospitality brands globally.
The “competitive socialising” sector has taken off lately, with darts bar Flight Club and cricket venue Sixes among the other recent successes. Last week, Sixes secured funding from an investment group founded by England cricket stars Ben Stokes, Jofra Archer and Stuart Broad.
