London-based technology company Improbable has announced its financial results for 2024, with revenues of £10 million ($13 million) and £163 million ($213 million) in cash.
The company says the news is a result of its decision in 2023 to become what it calls a “venture builder”; that is a company which invests in and grows individual startups within a wider portfolio approach.
To-date in 2025, Improbable is on track to spend £17 million backing more than 10 companies including gaming infrastructure outfit MSquared, multiplayer streaming game Jitter, and EVM blockchain Somnia.
It expects to invest in and launch more ventures during 2026.
“We have a clear strategy to become the most attractive partner for exciting new companies, entrepreneurs and investors in the metaverse, web3 and AI sectors,” commented COO Peter Lipka.
“Our venture builder model means we can uniquely provide the most exciting UK and European companies with the tools needed to be successful to deliver the ecosystems of the future. We are already seeing the benefits of our strategy, with 12 ventures in our portfolio currently, and our strong cash position enables us to pursue further innovative ventures.”
You can find out more about Improbable’s model and Somnia from our interview with CEO Herman Narula.
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