London-based startup Unit1 Studio has secured £20 million in equity and production funding. The round was led by Balderton Capital, with participation from Mercuri, Gilston Music, and Paul McGuinness. The company aims to make avatar-based concerts commercially viable by reducing production costs compared to existing high-budget shows like ABBA Voyage, which reportedly cost £140 million.
Founded in October 2025 by Barney Wragg, Jonathan Butterell, and Pavle Mihajlovic, the startup focuses on creating mobile, adaptable avatar performances. Unlike static hologram shows, Unit1’s technology allows productions to be moved and reconfigured for different venues. The company recently demonstrated this by relocating a digital show featuring KT Tunstall to a new studio in four days.
To support its expansion, the firm has hired VFX experts Greg Meeres Young and Sefki Ibrahim, both of whom previously worked on the ABBA Voyage production. While the company has not yet disclosed its roster of artists, it plans to announce them once tickets become available. Unit1 intends to use its new capital to scale operations and develop shows for artists who are unable to tour.
