London-based Unit1 Studio has secured $20 million in new financing to expand its avatar concert business. The financing combines an oversubscribed equity round led by Balderton with additional production financing for concerts in development. Existing investors Mercuri, Gilston Music and artist manager Paul McGuinness participated in the equity round.
Founded in 2025, Unit1 Studio is led by co-founder and CEO Barney Wragg. The company produces mixed-reality avatar concerts that combine digital performers with live-stage production, including sound, lighting, staging and visual effects. Its model covers the process from rights and artist collaboration through production, venue deployment, marketing and ongoing show operations.
Unit1 Studio is developing its production system to make avatar concerts easier to transfer between venues instead of requiring a single permanent installation. The company has demonstrated the approach by relocating its KT Tunstall avatar showcase to a purpose-built studio at Tileyard London. The new financing will support its growing pipeline of avatar concert productions.
The fundraising is classified as Startup Fundraising, with Unit1 Studio falling under the approved Consumer Services & Media sector within the Consumer & Commerce sector group.
