F1 Arcade simulator brand announces £30m funding for expansion
The first official F1 simulator racing experience that serves drinks and food has a site at New Change retail and leisure complex close to St Paul’s Cathedral in London with a second UK site slated for a November 2023 opening in Birmingham, is owned by Kindred Concepts whose founder and CEO is Adam Breeden.
The funding will support F1 Arcade’s international expansion plans, primarily in the US, where the business has a site in Boston set to open in 2024.
F1 drivers invest
It also said it is building a pipeline of new venues in the UK and US while discussions are ongoing with franchise partners around the world, including Europe, the Middle East and Australia.
The fundraising round, led by Liberty Media and Formula 1, attracted investors including Imbiba and McLaren Racing CEO Zak Brown and F1 drivers Lando Norris and Logan Sargeant.
Adam Breeden welcomed the partnership with Liberty Media and Formula 1 and said: “We are truly excited to be working closely with Liberty Media and Formula 1 as equity partners as we drive towards global growth.”
Success of first location
He continued: “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.
“For now, we are eagerly anticipating the opening of Birmingham UK in late 2023 and our first US site in Boston in early 2024 as well as announcing further locations imminently.”
