RAISE Invest Backs EVA with €35M to Lead Global Immersive Leisure Market

French immersive entertainment company EVA (Esports Virtual Arenas) announces a €35 million minority investment led by RAISE Invest, marking a significant milestone in its international expansion strategy. The funding will support EVA’s growth across Europe, particularly in Germany and Spain, and the rollout of new virtual reality (VR) gaming experiences, including the recently unveiled EVA Karting GP.

With over 70 locations in 10 countries, EVA has established itself as a pioneer in free-roaming VR arenas, offering immersive entertainment that combines physical movement with virtual gaming. The company aims to surpass 100 venues by the end of 2026, leveraging this capital injection to accelerate franchise openings and enhance its game portfolio.

RAISE Invest, a French private equity firm specializing in minority investments in profitable, high-growth small and mid-cap companies, brings both capital and strategic expertise to EVA. The partnership is designed to support EVA’s international rollout and operational scaling, utilizing RAISE’s data and financial engineering capabilities.

EVA’s new flagship game, EVA Karting GP, debuted to strong acclaim at the Paris Games Week 2025. It uniquely combines real electric drift kart driving with virtual racing on 500-square-meter arenas, delivering a family-friendly yet technically advanced experience. This innovation exemplifies EVA’s commitment to pushing the boundaries of immersive leisure.

Jean Mariotte, EVA’s co-founder, states, “This operation validates the strength of our model and the relevance of our vision. It provides the means to consolidate our leadership in France and amplify our international deployment. EVA Karting GP perfectly embodies the new generation of social and spectacular experiences we aim to bring to Europe and beyond.”

RAISE Invest partner Vincent Sauzay adds, “EVA is a unique asset with a team that created its own category at the intersection of gaming and collective entertainment. The product and player experience are exceptional and form the foundation of the company’s success. We are excited to support EVA’s next growth phase driven by network expansion and product innovation.”

The investment comes as EVA continues to build momentum in the esports sector, having launched the EVA Pro League in April 2026. This professional free-roaming esports league features eight of Europe’s largest esports organizations, underscoring EVA’s growing influence in competitive immersive gaming.

Strategically, EVA prioritizes expansion in Germany and Spain, with 10 new venues planned or underway in cities such as Granada, Barcelona, and Krefeld. These will complement existing sites in Madrid, Malaga, Unna, and Cologne. The company also plans to introduce two additional family-oriented VR games in 2026, further broadening its appeal.

Industry analysts note that EVA’s strengthened footprint and innovative offerings will intensify competition in the immersive entertainment market, prompting rivals to accelerate their own international and product development efforts. The partnership with RAISE Invest is expected to deliver economies of scale, shared marketing efficiencies, and enhanced R&D capabilities.

Looking ahead, EVA faces challenges typical of rapid international growth, including maintaining service quality across diverse markets and coordinating product launches. However, the company’s proven franchise model and strong community—over one million players and 10,000 regular users in France alone—position it well for sustained expansion.

Overall, the €35 million funding round marks a pivotal step for EVA as it seeks to solidify its status as the global leader in immersive leisure and prepare for future entry into the US and Asian markets.