Aldin Dynamics
Icelandic VR software company focused on creating believable virtual reality experiences.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
ISK60.0k | Grant | ||
| Total Funding | 000k | ||
| EUR | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | (86 %) | 1304 % | 151 % | 1079 % | 21 % | - |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | - | - | 23 % | (26 %) | 60 % | 58 % | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (659 %) | (861 %) | (37 %) | (83 %) | 44 % | 38 % | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article, Dealroom estimates
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Based in Reykjavik, Iceland, Aldin Dynamics is a virtual reality software company established in early 2013 by founders Hrafn Thorisson and Gunnar Valgardsson. The company emerged from the Icelandic Institute for Intelligent Machines startup accelerator program and has since been a notable name in the VR space, focusing on creating believable virtual experiences. Aldin Dynamics secured a formal partnership with Oculus in March 2014 and has received funding, including a $1 million seed investment in 2018, to advance its work in combining VR with artificial intelligence.
The company's business model encompasses both direct-to-consumer (B2C) sales of its VR games and business-to-business (B2B) licensing of its proprietary technologies. Revenue is primarily generated from the sale of its flagship title, *Waltz of the Wizard*, on platforms like Oculus Quest and Steam, where it has achieved sales records. The company also develops and licenses its underlying technology to other developers.
Aldin Dynamics' core product is *Waltz of the Wizard*, a highly interactive VR experience that allows users to embody a wizard with magical powers. The game is designed as a sandbox environment where players can experiment with spells, mix potions, and interact with the world using natural inputs like hand gestures, finger snaps, and voice commands. A key feature is Skully, a responsive, voice-acted character that interacts with the player, enhancing the sense of immersion. The game has been praised for its use of VR-native mechanics, moving beyond the limitations of traditional keyboard and mouse inputs.
Underpinning Aldin's products is the proprietary PresenceCore™ engine, which facilitates multimodal interactions by combining voice, hand tracking, and body language to create intuitive and responsive virtual environments. This engine also powers Ghostline®, a B2B analytics and quality assurance tool designed for VR content. Ghostline® helps developers accelerate their workflow and improve user experience design by providing detailed data on player behavior, including movement and room-scale utilization. This tool was developed with support from a $340,000 grant from Iceland's Technology Development Fund and is used by other notable VR studios.
Keywords: virtual reality, Aldin Dynamics, Waltz of the Wizard, VR gaming, PresenceCore, Ghostline, Hrafn Thorisson, Gunnar Valgardsson, interactive entertainment, VR development tools, motion tracking, voice interaction, hand tracking, character AI, immersive experiences, sandbox game, VR analytics, Oculus Quest, SteamVR, believable reality